The last chance to jump on BITCOIN SHORT train
What we see here is a 3 sell off tops in November, which turned to bearish wedge pattern, then followed by Wyckoff consolidation with 2 upthrust moves because of the gap that bitcoin left after last sell off and Swing Failure Pattern. All of this united by 5 top RSI bear divergence, week bearish divergence and CVD bear divergence
Wyckoff reverse consolidation structure with two upthrusts happens, when price action breaks through major resistance with strong momentum, fills huge order blocks in one go and gets rejected after a while to fill the gaps, left by momentum and retest demand zones and support to fill orders. This is supported by Bitcoin CME futures analysis, where price action left a void at 77k, and it always tends to get back and fill it according theory and practice.
Now at the moment we have a second upthrust which is the climax move of consolidation characterized by huge momentum candles, bearish patterns and manipulative moves like false breakouts/bull traps. All that is left to do is retest of 1/4 H timeframe supply, very possible liquidity sweep over equal heights and distribution phase should begin afterwards, as sudden 105k-101k crash indicates, that sellers took control.
Trade it at your own risk
Wyckoff reverse consolidation structure with two upthrusts happens, when price action breaks through major resistance with strong momentum, fills huge order blocks in one go and gets rejected after a while to fill the gaps, left by momentum and retest demand zones and support to fill orders. This is supported by Bitcoin CME futures analysis, where price action left a void at 77k, and it always tends to get back and fill it according theory and practice.
Now at the moment we have a second upthrust which is the climax move of consolidation characterized by huge momentum candles, bearish patterns and manipulative moves like false breakouts/bull traps. All that is left to do is retest of 1/4 H timeframe supply, very possible liquidity sweep over equal heights and distribution phase should begin afterwards, as sudden 105k-101k crash indicates, that sellers took control.
Trade it at your own risk
交易進行
Dollar rejects from ressistance and has a void below, meanwhile BTC futures left a void above. Put it together with BITCOIN gaps up there and we have ourselves very possible retest of 104-105k before breaking out from consolidation downwards. Worth considering that with trade wars going around, market open might get pretty ugly
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