Given todays price action…Its quite interesting to see how they are building their positions in and around the 47k zone…
The 5minute time frame above is showing a potential pattern development.
Your objective is to check what this is doing across the higher time frames?
What is this pattern showing on the 15m?
What is it doing on the 1hr?
Is the move currently around key moving averages?
What vectors have the recovered?
Ideally we want to see price moving back up…is it not bizarre how they have kep bitcoin in this zone all day…
Probably one of the most boring days in crypto if you ask me.
What can we expect?
We wait…
If they do not move price lower by Asia, then there isa good chance Asia may initiate a stop hunt rise towards the 50 ema on the 1hr…Granted it does look far way, however, something sinister is happening…
The Death Cross…
Will this be the moment they decide to reverse price back up because they have trapped traders believing that price now will continue lower?
This is all we can make of price right now…What ever happens next…
The move may be a false move to solidify the traders to stay committed to their trades to the downside, which will then allow the market maker to reverse back up and hit the stops.
See you at the Stream
Mad Love
T
