We can see Bitcoin had made a Rally in early August from 50,000 to 62000 (22bars).
Then a significant Base followed (88 bars).
In the last NY Session there was a strong breakout on High Volume (Yellow VSA Candle) .
Probably related to J Powell's "the time has come" statement on interest rates = Weak USD.
What's next ?
Price to revert to the mean, and retest the breakout zone. This area offers confluence of
1. Minor Trendline
2. 200 EMA Channel - price crossing has switched bias to long.
3. 50 EMA - which is about to break the 200 EMA Channel.
4. Point of Control - price level which attracted greatest interest of participants.
From this level , Bitcoin to Rally within the week to test Supply at 68,000.
Then a significant Base followed (88 bars).
In the last NY Session there was a strong breakout on High Volume (Yellow VSA Candle) .
Probably related to J Powell's "the time has come" statement on interest rates = Weak USD.
What's next ?
Price to revert to the mean, and retest the breakout zone. This area offers confluence of
1. Minor Trendline
2. 200 EMA Channel - price crossing has switched bias to long.
3. 50 EMA - which is about to break the 200 EMA Channel.
4. Point of Control - price level which attracted greatest interest of participants.
From this level , Bitcoin to Rally within the week to test Supply at 68,000.
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