#Bitcoin - whats next ?
The big Sunday report, all you need to know:
In last weeks Sunday report we spoke about the reason why market makers need consolidation ranges, in these ranges they are accumulating short/ long positions for the next big move. After perfectly predicting the dump from $29.500, giving $26.000 as target, we said that $BTC is going right into a strong sideway movement between EMA50 daily and MA200 weekly afterwards. Watch the chart, its playing out perfectly, so whats next ?
🚩 TA/ LCA/ Psychological Analysis: As you can see in the chart, the liquidity pool in $30.000 region and $26.000 increased heavily from the pool last week. This is the exact reason why market makers allow the price to consolidate for a while. So what moves Iam expecting next in the very short term?
Do you see the liquidity pool right above EMA50 ? There is a possibility that market makers would pump $BTC above EMA50, make it look like a "Bullish breakout" grabbing the liquidity, and filling supply at $27.800 and dump the price to normal level. For that, I have placed a short order in the region of $27.800 with a tight stop loss in any case. The next and bigger liquidity pools in the upside start at $30.000 in case of invalidation.
My plan for now:
Fakeout above EMA50, grab liquidity and back to normal level. Lets see how it plays out
This was a small Sunday report, not many updates due to current sideway movement. For full report and the big picture, read the Sunday update from last week. Its not needed to repeat sentence for sentence each week. Hope you enjoyed it anyway
Important days in the week:
Mo: //
Tue: CB Consumer Confidence
Wed: JOLTS Job Openings
Thursday: Unemployment Claims
Friday: Unemployment Rate
End// thx for reading
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