#analysis 51 - Analysis on Structure

2022년 7월 21일

So far BTC reached a "+" bar just like few days ago, which can be recognized as reversal bar.

2022년 7월 21일

노트

A resistance is above and yet untapped. So from this perspective, it's still having chance to go up.

2022년 7월 21일

노트

Now there's still one OB up above, and now price is into the FVG. As the price has consolidated down below the FVG, I expect it to fill lower part of the FVG.

2022년 7월 21일

노트

If we choose the high-volume bar, we can see the bar has rejected the price, and then the price moved back.

2022년 7월 21일

노트

If we check the price action down below, it's worth noticing that the price has never grabbed the liquidity , which is very important for the future rise of the price. From this, I can say it would be hard for the market to go up since the price cannot do it without liquidity, or the money.

2022년 7월 21일

노트

Also, we can say it didn't create a solid consolidation for the price to build position which should be "low enough".

2022년 7월 21일

노트

If you check the history on Jan to May, we can see that the trend is up, but it still lacked lq to move up.

2022년 7월 21일

노트

Also, from May to Jun, similar pattern happened again.

2022년 7월 21일

노트

For the major trend, which is down, and past patterns, I would say it's still not pretty good to buy spot or long here. Right now it's better wait and watch how it gonna play here.