BTCUSD Possible Long?
Bitcoin has just tapped into the order block from August 3rd, 2021 for the second time. The last time this happened, there was a rally.
But let's take a look at what happened ater Bitcoin tapped into that BO. There was a quick run off from 39K to 40800 ish in price, indicating bullish presence.
There's also an AO divergence as seen on the daily timeframe.
I also used my Dominan Break strategy to see that on the daily TF, Bitcoin has hit all three take profit levels on the Fib tool.
Is there a rally coming? In my previous post I mentioned the possible directions BTC could go, and there are still some unmitigated OBs and imbalances that need to be filled on the upside.
Right now I'm neutral on this, but I'm thinking there will be a rise possibly back to 42K soon.
But let's take a look at what happened ater Bitcoin tapped into that BO. There was a quick run off from 39K to 40800 ish in price, indicating bullish presence.
There's also an AO divergence as seen on the daily timeframe.
I also used my Dominan Break strategy to see that on the daily TF, Bitcoin has hit all three take profit levels on the Fib tool.
Is there a rally coming? In my previous post I mentioned the possible directions BTC could go, and there are still some unmitigated OBs and imbalances that need to be filled on the upside.
Right now I'm neutral on this, but I'm thinking there will be a rise possibly back to 42K soon.
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