BTC Needs to clear this area
If Btc cannot clear this level I cannot buy - According to one of my students I am suffering from PTSD from the buys I took yesterday lol
I can seriously agree with that if I am being honest, the drop came out of nowhere and the thing with btc is when it starts to move, it really moves..
Now, what I will say say is that when you look at this area I've highlighted (in orange) price is clearly stumbling about this level, having even "broke out" not to long ago but as you can see that definitely wasn't a break out and in fact was a fake out to induce traders to buy.
The fact is that btc is stumbling about this area now as it attempts to capture orders for the next move. What the next move will be is still unknown but I believe it will be buys.
Why? Just when you look at the lows and how they are behaving, price doesn't like the lows - consistently rejecting the lows and having price be pushed higher and higher each time.
What this tells me is that sellers are still not in control and are only being made to believe that they are so that they can inject liquidity into BTC so that it can be used by the buyers.
Remember, if market participants are buying, someone has to be there to sell.
I will continue to watch it to see if and when it starts to move.
I can seriously agree with that if I am being honest, the drop came out of nowhere and the thing with btc is when it starts to move, it really moves..
Now, what I will say say is that when you look at this area I've highlighted (in orange) price is clearly stumbling about this level, having even "broke out" not to long ago but as you can see that definitely wasn't a break out and in fact was a fake out to induce traders to buy.
The fact is that btc is stumbling about this area now as it attempts to capture orders for the next move. What the next move will be is still unknown but I believe it will be buys.
Why? Just when you look at the lows and how they are behaving, price doesn't like the lows - consistently rejecting the lows and having price be pushed higher and higher each time.
What this tells me is that sellers are still not in control and are only being made to believe that they are so that they can inject liquidity into BTC so that it can be used by the buyers.
Remember, if market participants are buying, someone has to be there to sell.
I will continue to watch it to see if and when it starts to move.
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