BTC is in a big symmetrical triangle (Yellow lines)
I am now more convinced the current trading range is a distribution schematic..
Mainly because of the volume that comes with these red dongers (Sign of weakness).
Everytime we hit the supply line btc 0.85% takes a dive south and find temporary support at the bottom of the trading range..
We might test the supply line once more or even try to break through it.. The supply line is for me a perfect target to short btc 0.85% or when strongly breaking down the support (bottom of trading range)!
Warning: If this for some reason breaks the supply line with lots of volume and price movement this distribution will be invalidated for me
This is my opinion and i can change my opinion when the market changes. This is just my current view
I am now more convinced the current trading range is a distribution schematic..
Mainly because of the volume that comes with these red dongers (Sign of weakness).
Everytime we hit the supply line btc 0.85% takes a dive south and find temporary support at the bottom of the trading range..
We might test the supply line once more or even try to break through it.. The supply line is for me a perfect target to short btc 0.85% or when strongly breaking down the support (bottom of trading range)!
Warning: If this for some reason breaks the supply line with lots of volume and price movement this distribution will be invalidated for me
This is my opinion and i can change my opinion when the market changes. This is just my current view