Hi there. Thought about putting out there my own TR analysis. Bitcoin is showing some strength signs but we all know that Honey Badger doesn't care about anything.
If price breaks under last LPS and remain closed under it. We continue inside the TR and heading to test ST zone. As of now it's building it's case for SOS (Signs of Strength).
Volume showing more impact on up candles and demand rejections than on supply rejections or down candles. A look into the AD+ (Accumulation/Distribution) we can see that volume is trending up mainly with more consistency.
Nonetheless I do not believe we have a strong case to go long here. The risk is simply too high due to Trading Range nature and we didn't have a proper SPRING.
If you thinking to long or add to position here... IMO is not good time. If you are in position since First LPS / Under Creek, those stop losses should be raised to recent LPS.
Really want to see volume building up into bullish candles and increasing spreads to be convinced we are going to upthrust and pierce above the TR.
If price breaks under last LPS and remain closed under it. We continue inside the TR and heading to test ST zone. As of now it's building it's case for SOS (Signs of Strength).
Volume showing more impact on up candles and demand rejections than on supply rejections or down candles. A look into the AD+ (Accumulation/Distribution) we can see that volume is trending up mainly with more consistency.
Nonetheless I do not believe we have a strong case to go long here. The risk is simply too high due to Trading Range nature and we didn't have a proper SPRING.
If you thinking to long or add to position here... IMO is not good time. If you are in position since First LPS / Under Creek, those stop losses should be raised to recent LPS.
Really want to see volume building up into bullish candles and increasing spreads to be convinced we are going to upthrust and pierce above the TR.
D7R
