Bitcoin Daily Fractal
Hello Everyone,
I wanted to share this idea with you as I think it is an excellent food for the brain and to dwell on.
I am not saying that it will play the same as in September, but we can deny that the similarities are staggering.
-RSI sam level
-Stoch RSI same level
-The support found on 2 VWAP from High and Low from long and intermediate trend
-Resistance found from VWAP set from short term rally low
-Same price action
-Strong resistance set by trendline
It will be interesting to see how this will play out. However, I won't hesitate to enter and add when BTC will break above the short term trend VWAP (black).
BTC is on a thin line, and there is a lot of squeeze building up. In the sense that there is a lot of liquidation power building up. Many stop losses orders close to each other. Similar to the last drop at 56k. High volatility is around the corner, and it can go either way. It s better to wait for the market to show you the direction rather than guess. Then we all have opinions and biases. Like mine, the FOMC has already been priced in the price action of last week and a half, so right now, retail traders are the ones selling, so I expect a buy the rumours sell the news type of action (reverse). However, the markets decide, so let s wait for it.
Will BTC break up or down?
My vote is up (To clarify, I am not entering now, wait for confirmation either way)
FOLLOW ME, SHARE, LIKE AND COMMENT
I wanted to share this idea with you as I think it is an excellent food for the brain and to dwell on.
I am not saying that it will play the same as in September, but we can deny that the similarities are staggering.
-RSI sam level
-Stoch RSI same level
-The support found on 2 VWAP from High and Low from long and intermediate trend
-Resistance found from VWAP set from short term rally low
-Same price action
-Strong resistance set by trendline
It will be interesting to see how this will play out. However, I won't hesitate to enter and add when BTC will break above the short term trend VWAP (black).
BTC is on a thin line, and there is a lot of squeeze building up. In the sense that there is a lot of liquidation power building up. Many stop losses orders close to each other. Similar to the last drop at 56k. High volatility is around the corner, and it can go either way. It s better to wait for the market to show you the direction rather than guess. Then we all have opinions and biases. Like mine, the FOMC has already been priced in the price action of last week and a half, so right now, retail traders are the ones selling, so I expect a buy the rumours sell the news type of action (reverse). However, the markets decide, so let s wait for it.
Will BTC break up or down?
My vote is up (To clarify, I am not entering now, wait for confirmation either way)
FOLLOW ME, SHARE, LIKE AND COMMENT
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