Yo guys,
The chart above tells a story about the way price has been behaving…
Here goes…
1) – THis is the volume profile from yesterday’s high in new york to the current price. BTC is currently holding above the POC and if you look closer you will see more violet vectors appearing in this zone which is at the daily open also…Keep in mind…There appears to be no volatility as the EMAS are flat.
2) Lower highs are being achieved. IS this a problem? is everything starting to move down lower? Notice that the Green vectors are being recovered and the red vectors…This entails that they are getting their money in good and making a profit from it…
3) The point of control appears to be holding for now…We want to see prices aggressively move away from this zone.
4) This may be the clue that they will look to move bitcoin higher…With the aggressive nature of this play, they had every chance to mark the price down lower, yet they did not follow through…The red vector did not complete and the blue stopping volume candle came to the surface to return the price back up. Building longs below the 47k range?
Notice the volume below (green arrows) Big Red volume bar…more than the previous drop from the new yorks session..Is this the clue to bitcoin moving higher?
Projected zone – Range Daily High
Mad Love
T
