Hey traders,
Quick update from my previous Bitcoin read, it looks like the move is playing out exactly how we expected it to and we are on target for $18,155, or the EQ of the accumulation zone marked in green on my chart.
We saw the short opportunity at the buy-side manipulation zone and then now we’re seeing the quick drawdown out of the distribution zone and back to equilibrium with a higher low in accumulation.
We might see a wick of $16,889 because Binance.US had the low wick there on their pair, which is interesting, could be a foreshadow to what’s about to come. Anyways, really expecting $18,155 to hit, at this point we’ve been calling $19,356 and that’s a given.
After the weekly close if we don’t rebalance back up to $20,800, this should play out.
All the best!
Quick update from my previous Bitcoin read, it looks like the move is playing out exactly how we expected it to and we are on target for $18,155, or the EQ of the accumulation zone marked in green on my chart.
We saw the short opportunity at the buy-side manipulation zone and then now we’re seeing the quick drawdown out of the distribution zone and back to equilibrium with a higher low in accumulation.
We might see a wick of $16,889 because Binance.US had the low wick there on their pair, which is interesting, could be a foreshadow to what’s about to come. Anyways, really expecting $18,155 to hit, at this point we’ve been calling $19,356 and that’s a given.
After the weekly close if we don’t rebalance back up to $20,800, this should play out.
All the best!
BTC/USD | March 13th, 2023
Quick update from my last post, looks like we got front-ran. Bitcoin just wicked the $24,233 level (distribution) and is looking to create a higher high in this area.
Two scenarios:
Continue the swing up until exhaustion at $26k
Fizzle out and lose $24,233 as a level and find support at $20,900.
Both of these scenarios lower the confidence I have in my order hitting, however I need to adapt. Will continue to keep you updated, all the best