Expecting a bullish move at the end of this consolidation to tes
Expecting a bullish move at the end of this consolidation to test the all time highs.
Key Factors
-- Key support is being tested now.
-- A push to get more sell side liquidity from the "Whales" could see a spike down to the 39k area.
-- A more gentle accumulation would be in the mid 40s (433 - 47k) Range.
-- There is divergence appearing on the RSI. Implying that the selling pressure is getting weaker, while price is falling.
Key Factors
-- Key support is being tested now.
-- A push to get more sell side liquidity from the "Whales" could see a spike down to the 39k area.
-- A more gentle accumulation would be in the mid 40s (433 - 47k) Range.
-- There is divergence appearing on the RSI. Implying that the selling pressure is getting weaker, while price is falling.
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So far tracking... projection. (unfortunately in a way)
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People reporting on on-chain analysis, think its unlikely to see the high volume spike down. Due to leverage levels and types of people buying and selling right now.
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A meaningful change occurred on lower timeframes 15m. Sharpest spike up inside 1d. ~7%.
The next push down inside the consolidation triangle will be interesting to watch on lower timeframe for indication that the pressure will turn bullish.
The next push down inside the consolidation triangle will be interesting to watch on lower timeframe for indication that the pressure will turn bullish.
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Breaking out of the wedge failed, and local support failed. While delayed the 38k area seems in play.
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Accumulation is likely beginning as some of the dips are being bought up. Looking for strength on the 8hr
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Failed.
