Bitcoin's Volume Profile Support at 103,900 is holding.
Hold here (again) and likely another test for new ATH.
Breaking it means retrace down to the 94k-93k 50% Retracement + Volume Profile region.
Then, time comes into play with the tried and tested Bitcoin Daily Ichimoku Cloud Strategy. If Chikou (used as momentum) does not clear the cloud at the same time as price the bull trend is neutral but still intact.
If the move happens quickly the Support region is likely to hold and retest the highs once more in weeks to come...
2 situations reverse the trend to bearish:
1. Price moves quickly to sub-90k
2. Price moves more slowly to the 50%-VP region.
Both situations get Chikou out at the same time as price. Timing and price come together to flip the trend to bearish.
Trade Wisely
Hold here (again) and likely another test for new ATH.
Breaking it means retrace down to the 94k-93k 50% Retracement + Volume Profile region.
Then, time comes into play with the tried and tested Bitcoin Daily Ichimoku Cloud Strategy. If Chikou (used as momentum) does not clear the cloud at the same time as price the bull trend is neutral but still intact.
If the move happens quickly the Support region is likely to hold and retest the highs once more in weeks to come...
2 situations reverse the trend to bearish:
1. Price moves quickly to sub-90k
2. Price moves more slowly to the 50%-VP region.
Both situations get Chikou out at the same time as price. Timing and price come together to flip the trend to bearish.
Trade Wisely
"Be to others the person you needed to meet 10 years ago"
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"Be to others the person you needed to meet 10 years ago"
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.