We are still very much anticipating the bears to step in to begin sending BTC back south. As can be seen on the chart, price broke structure on the daily and currently mitigating the last up move before the down move began.
This is the concept of absorption and is indicated here by grey circle.
Price keeps trying to move above 25000 but has been met with heavy bears and reluctance and quick push back down. In this process the composite man has begun to exit all the buys and has began to distribute sell order positions.
Look out for the bears to begin taking price down in the next coming days and weeks eventually going further down to take out all the liquidity resting below 16000.
Always remember never to over leverage your account and practice good money and risk management on your trades. Happy Trading...
This is the concept of absorption and is indicated here by grey circle.
Price keeps trying to move above 25000 but has been met with heavy bears and reluctance and quick push back down. In this process the composite man has begun to exit all the buys and has began to distribute sell order positions.
Look out for the bears to begin taking price down in the next coming days and weeks eventually going further down to take out all the liquidity resting below 16000.
Always remember never to over leverage your account and practice good money and risk management on your trades. Happy Trading...