BTC is creating liquidity at the moment by making a compression.
Its being made for a next impuls push, i will be watching the price in the green box POI to look for bullish conformation to make a new HH. I will look on the 1 MIN for bearish structure breaking. And create a limit long on the retest
There is still some Supply imbalances that makes it intresting to still look for a 3th push to the upside.
Also there is an Eliot wave 5 inplay and at the moment writing this its in retracement phase/Consolidation phase.
The long more below is intresting if price wants to test the lower levels demand and create alot off liquidty with a probability to move up with a strong impuls.
No financial advice.
Its being made for a next impuls push, i will be watching the price in the green box POI to look for bullish conformation to make a new HH. I will look on the 1 MIN for bearish structure breaking. And create a limit long on the retest
There is still some Supply imbalances that makes it intresting to still look for a 3th push to the upside.
Also there is an Eliot wave 5 inplay and at the moment writing this its in retracement phase/Consolidation phase.
The long more below is intresting if price wants to test the lower levels demand and create alot off liquidty with a probability to move up with a strong impuls.
No financial advice.
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Price broke out off the compression to the upside already and found support again for a second push. I am no longer looking for long at the POI. This happend because bulls are strong in control. Most off the times the market will liquidate the current HL's tot then move up.