BTC ! Are we looking at a 6000 point rally
Hi
Using the Volume Profile Tool I am trying to identify my supports and resistances on the 4 Hr time frame and find the following probability
We have broken a small resistance at the 23200 to 23700 area and also beginning to attempt a break out from a longer-term down-trending channel.
Though in its early stages, potentially we could have a test back to 23550/23700 areas and bounce from there.
The volume profile on the longer time frame shows an area of low volume until the 29500/30000 levels and that could be the path of least resistance
for the price to take. It could be a surprisingly brisk move if it decides to happen. Giving us a low-risk high probability trade setup.
The move next week should be interesting to watch
Cheers !!
Using the Volume Profile Tool I am trying to identify my supports and resistances on the 4 Hr time frame and find the following probability
We have broken a small resistance at the 23200 to 23700 area and also beginning to attempt a break out from a longer-term down-trending channel.
Though in its early stages, potentially we could have a test back to 23550/23700 areas and bounce from there.
The volume profile on the longer time frame shows an area of low volume until the 29500/30000 levels and that could be the path of least resistance
for the price to take. It could be a surprisingly brisk move if it decides to happen. Giving us a low-risk high probability trade setup.
The move next week should be interesting to watch
Cheers !!
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.