BITCOIN, Difficult Situation - Let's FIGURE IT OUT!

The latest most unambiguous situation on $Bitcoin. The following picture corresponds to a set of theories of accumulation/distribution . We have a double level of support that differs in density of the volume of trading during the moving through it and through a double zone of resistance. The closest levels to the middle of the channel have the property to be decisive for traders trading within the channel with the ability to save a deposit by buying or selling after the price returns to the internal zones moving along the flow the current position. And external levels serve as a signal to exit the channel, depending on how the market reacts to them. If the price is traded inside the extreme channels (upper, within $9580 - $9660 and lower $9235 - $9380), closing in on the appropriate level, this stimulates the continuation of movement with an impulsive dash towards the level that attracted the price.

In our case, the price has still rather poorly managed to demonstrate its character in the area of support zones, therefore such a scenario may seem like preparation for the creation of a strong reversal pattern, or reversal scenario in favor of the LONG position. On the other hand, we remember how the price behaves in such double channels and how to analyze the breakthrough the accumulation/distribution channel.

Let me remind you that when the price is pressed against the extreme levels of support/resistance, followed by breaking through and fixing - a strong signal to continue the trend in the same direction. A strong reversal pattern for a hike upwards can be either a triangle with a flat base on top, or a double bottom in the double support area, or an inverted H&S with a head top in the area of $9235, and margin in the area of $9380. In the case of the H&S, we will see a further flat. longer than in other situations. This hour, the price priority is downward, as the price is below both resistance levels with the direction vector downwards.

If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!