Bitcoin Breaking Barriers
This analysis is based on Wyckoff ideas.
We can see a clear trading channel, that was broken during February 10 and 11, to form a new, but smaller and more detailed channel, where prices managed to rise strong up to a new high. That new high was made by a large green candle, closing about a fifth of its length, showing some weakness; and since then volume has dropped drastically, but with some clear signs of demand strength.
A spring in Wyckoff terminology; SMAs crossed, supporting prices up; a clear spring to the smaller support line, and now forming what is looking like a test on the all time highs resistance line.
But the key question is, is volume high enough to keep pushing prices up?
Have a great day!
We can see a clear trading channel, that was broken during February 10 and 11, to form a new, but smaller and more detailed channel, where prices managed to rise strong up to a new high. That new high was made by a large green candle, closing about a fifth of its length, showing some weakness; and since then volume has dropped drastically, but with some clear signs of demand strength.
A spring in Wyckoff terminology; SMAs crossed, supporting prices up; a clear spring to the smaller support line, and now forming what is looking like a test on the all time highs resistance line.
But the key question is, is volume high enough to keep pushing prices up?
Have a great day!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.