yfi had a nice response at the yearly show providing a $10k candle to the upside that his since retraced to the $8k region.
whilst selling pressure has made a low on the OBV, the price has managed to stay above the last bearish candle open on the monthly chart.
we now have a clear demand zone with unlimited upside potential, given that bitcoin seems to have found a local bottom / dxy has possibly peaked giving relief everywhere else.
if yfi can break the diagonal and claim the daily at $11k then there is no reason yfi cannot test $22k upward, possibly even mid-high $40k, or just go nuts and hit the 1.62 fib at $150k, but baby steps for now ;-)
whilst selling pressure has made a low on the OBV, the price has managed to stay above the last bearish candle open on the monthly chart.
we now have a clear demand zone with unlimited upside potential, given that bitcoin seems to have found a local bottom / dxy has possibly peaked giving relief everywhere else.
if yfi can break the diagonal and claim the daily at $11k then there is no reason yfi cannot test $22k upward, possibly even mid-high $40k, or just go nuts and hit the 1.62 fib at $150k, but baby steps for now ;-)
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nice and deep into the demand zone just a couple hundred $ off the binance yearly level, id market 5500 for a while and my orders triggered right in the middle of that bearish daily volume candle, perfect backtest for now.
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deep into that weekly demand, approaching the yearly level
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ooooof
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