Bitcoin Primed For The Next Move UP

11 ก.พ. 2023

After an aggressive sell down to acquire more liquidity to fill what we would assume are institutional orders, we see 3 attempts from the bears to push price lower once a previous level of support was reached. The wedge pattern also finished with a swing failure pattern, taking out all stop within that range and creating more buying pressure to the upside. As additional confluence, we have RSI divergence. I'm now anticipating this to be the reversal up which will eventually lead to higher prices. Stop is set below the SFP candle and take profits are set at naked levels and swing points along the way.