Macro picture of bitcoin accumulation areas and tops - renko
Make of this what you will, I thought this macro perspective was neat. The lack of bullish divergences and the current structure of this formation we are in makes me think we see a further dip down before up unfortunately. We could also hold here at the level of CVD divergence as support. However in this geopolitical climate, anything can happen.
The green/red bars off renko candles are periods of divergence between buy/sell volume and price (cumulative volume delta). They act as areas of support/resistance very nicely.
If someone can make out a clear bullish narrative from this chart, would love to hear from you.
Overall, I remain long
The green/red bars off renko candles are periods of divergence between buy/sell volume and price (cumulative volume delta). They act as areas of support/resistance very nicely.
If someone can make out a clear bullish narrative from this chart, would love to hear from you.
Overall, I remain long
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