I don’t usually share my longer term views on BTC but I decided give you guys a treat today.
BTC has been rallying off the accumulation which I had spotted months ago and has reacted just like I had predicted and price already hit my first take profit on spot.
However we’ve had very little room to breathe with many imbalances being created on the way up. And when price traded up into the orderblock at 44k-46k, price rejected predictably and has begun to move lower, likely forming a swing high.
While I see that there’s breaker at the 42k level, I’m anticipating price to trading through and into the orderblock denoted by the red arrow. This is where I might look to go long on BTC again.
However if we break below 37k, we will likely be headed much lower.
Please like and follow for detailed price action breakdowns like this, and best of luck traders!