On the verge here if flipping my bias... However have been waiting for these FVG to fill to see another crack at 25k level... It was clear that BTC was out of steam and traders awaiting a move down...Many traders on Twitter shorting the market, calling bear trend... I read one guy putting 'Stage 4 downtrend' lol... Ok... How many stages are there?? Hasn't even taken out the previous swing low...
We move from 15k to 24k odd (60%+) and stalls up there for over 30 days... Chopping up traders. The reason we stalled up here is because its the last line of defence for 'bear market' Previous peak of range from August 2022:
When dialling in closer, we can see the previous drop to the FVG / previous resistance high, in order to gather liquidity for a crack at the 25k level... Which was broken but closed back inside range... we see a similar pattern here, with the move down to the new FVG which also doubles as a previous area of resistance turned support (Look at local price action)
I'm hoping to see another move up to 25k level completing a potential 3 drive pattern, trapping certain traders and continuing the volatility chop up in this region.
We move from 15k to 24k odd (60%+) and stalls up there for over 30 days... Chopping up traders. The reason we stalled up here is because its the last line of defence for 'bear market' Previous peak of range from August 2022:
When dialling in closer, we can see the previous drop to the FVG / previous resistance high, in order to gather liquidity for a crack at the 25k level... Which was broken but closed back inside range... we see a similar pattern here, with the move down to the new FVG which also doubles as a previous area of resistance turned support (Look at local price action)
I'm hoping to see another move up to 25k level completing a potential 3 drive pattern, trapping certain traders and continuing the volatility chop up in this region.
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Have been watching PA most of the day, seeing price pushing to the lows and scooping up liquidity, ideally probing below previous wick lows and closing back above, signalling trapped traders... This accumulation pattern reminds me of 3 drive pattern or 4 legged dog accumulations.
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So 1hr, swept and trapped traders, divergence on Overwatch, MACD trend change, double bottom...
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No words needed, Pushing out of localised range, hopefully get a retest of the upper end of the range before moving back up to upper orderblock.
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Retest of previous range successful, only made it to the previous wick high. Looking to recommence the push upwards. MACD switching to positive territory (Above zero).
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Forgot to mention the FVG which is fractal in nature to this whole thread :)
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Heavy range bound action, frustrating for some... have chilled and await the 480 & 540 trendmaster to give more momentum trend shifts, here we have scalper, macd and OVERWATCH EMA shifts across the board...
