Hey @everyone Taking a look at the BTC Daily chart, first thing I can see is Volume picking up this is a good sign. It means we could likely get a decent move up or down, once BTC decides on a direction from here.
We haven't managed to touch any Weekly bearish Order Blocks on the higher TF so I am looking at 2 possible short term scenarios for now.
A, we hit the weekly Bearish OB and reject it at first, then potentially move up to the next one.
B, we swing low one more time and fill the liquidity down at 29.5k, the bottom of the Weekly bullish OB with a big wick to wipe out longs and open more short positions.
ML indicator - Bearish Money flow seems to be weakening on the Daily, we printed a double bottom on the wave indicator, but the second wave is larger than the previous one, so this is the new anchor wave. We are looking for a trigger wave with decreasing Bearish Money Flow to give us some confidence in a continuation higher.
We haven't managed to touch any Weekly bearish Order Blocks on the higher TF so I am looking at 2 possible short term scenarios for now.
A, we hit the weekly Bearish OB and reject it at first, then potentially move up to the next one.
B, we swing low one more time and fill the liquidity down at 29.5k, the bottom of the Weekly bullish OB with a big wick to wipe out longs and open more short positions.
ML indicator - Bearish Money flow seems to be weakening on the Daily, we printed a double bottom on the wave indicator, but the second wave is larger than the previous one, so this is the new anchor wave. We are looking for a trigger wave with decreasing Bearish Money Flow to give us some confidence in a continuation higher.