Hi Traders,
A quick update to the last post on $BTC.
So we explained that there were 3 order blocks
BTC would have to test as resistance to decide its direction.
We opened the month strong and rejected the support zone it rejected several times to make a push higher into the above 3 order blocks.
At the beginning of its most recent impulse leg up and as it went into the first order block you will notice a large wick this is institution's pushing price to liquidate shorts, prices then filled up the wick as liquidity was gathered to pushing into and straight through the second order block to then continue its move higher and into the last order block.
Its likely we see a short correction to test past resistance levels and turn them into support for prices to then finally test the much larger order block sitting around $50,000.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
A quick update to the last post on $BTC.
So we explained that there were 3 order blocks
BTC would have to test as resistance to decide its direction. We opened the month strong and rejected the support zone it rejected several times to make a push higher into the above 3 order blocks.
At the beginning of its most recent impulse leg up and as it went into the first order block you will notice a large wick this is institution's pushing price to liquidate shorts, prices then filled up the wick as liquidity was gathered to pushing into and straight through the second order block to then continue its move higher and into the last order block.
Its likely we see a short correction to test past resistance levels and turn them into support for prices to then finally test the much larger order block sitting around $50,000.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
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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.