Sorry, I am very busy lately so I couldn't post much yesterday. This chart is full of trendilines, I know, but if you focus you can read it.
BTC broke down this huge rising wedge (white lines) and is currently bouncing on that strong support at 47.5k, I've used a thicker red dashed line to highlight it. As you can see from volume profile there have been a lot of transactions there and buys were the majority. Signs are that this can be the end of the dump, not just because price bounced on a high liquidity zone but also because at 4h price went below the TMA lower band (at daily timeframe it bounced on it).
Should the dump not be over we're talking of 44.5k but this support is far weaker than 47.5k. If you wanna start accumulate you can do it now but don't enter using big position and set stop losses!!! If you wanna be more sure just wait, lose some possible profit but enter when you're sure!
I wanted to say something else but I forgot it... bummer!
BTC broke down this huge rising wedge (white lines) and is currently bouncing on that strong support at 47.5k, I've used a thicker red dashed line to highlight it. As you can see from volume profile there have been a lot of transactions there and buys were the majority. Signs are that this can be the end of the dump, not just because price bounced on a high liquidity zone but also because at 4h price went below the TMA lower band (at daily timeframe it bounced on it).
Should the dump not be over we're talking of 44.5k but this support is far weaker than 47.5k. If you wanna start accumulate you can do it now but don't enter using big position and set stop losses!!! If you wanna be more sure just wait, lose some possible profit but enter when you're sure!
I wanted to say something else but I forgot it... bummer!