We are currently at a very important area. The wave structure on the lower timeframes, especially the 1-hour and 30-minute charts, appears to me to be corrective, after which the price could move higher.
However, I believe that a downside move to continue the accumulation process is the more likely scenario and, in my view, the safer one.
I think it will be difficult for Bitcoin to move above $160,000 without taking enough time to complete the accumulation process and form some springs to sweep liquidity.
Davinci
However, I believe that a downside move to continue the accumulation process is the more likely scenario and, in my view, the safer one.
I think it will be difficult for Bitcoin to move above $160,000 without taking enough time to complete the accumulation process and form some springs to sweep liquidity.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.