BTC/USD 1D - This market looks to have been distributing on the daily timeframe, we have seen it range within this area over the course of the past two months.
As of recent we have seen price influx trading us back up but I feel this is to manipulate buyers before a further down move, I want to see price continue to break down taking us lower in this market.
We are yet to see the last high break in order to create a new higher high and we have seen a break in what was the last protected low, so both of these things suggest a potential down move.
We are no longer following the laws of bullishness but now following the laws of bearishness. Price has just traded us into a Supply Zone, I believe we may see price trade down initially.
Trade into a Demand zone which will give price a kick back up trading into a more fractal area of Supply and then price will continue the move lower, as drawn out above.
As of recent we have seen price influx trading us back up but I feel this is to manipulate buyers before a further down move, I want to see price continue to break down taking us lower in this market.
We are yet to see the last high break in order to create a new higher high and we have seen a break in what was the last protected low, so both of these things suggest a potential down move.
We are no longer following the laws of bullishness but now following the laws of bearishness. Price has just traded us into a Supply Zone, I believe we may see price trade down initially.
Trade into a Demand zone which will give price a kick back up trading into a more fractal area of Supply and then price will continue the move lower, as drawn out above.