BTCUSD Black Friday Update
This morning I’ve marked in Telegram channel that:
1) We have the weakness above 7600 and
2) Potential Hidden strength here.
Why this (2) bar could be interpreted as Strong? Because it has EXTRA_HIGH volume. When you see down-bar with higher-than-average volume – this is a sign of weakness, as it contains a Selling Pressure. But EXTRA-HIGH volume (2-5 times higher than average) – it is a mark of activity of professional money. What is important also – this bar penetrated the previous minor lows but rejected to develop further decline within next bars.
3) Instead of developing a decline we got this DB. It confirms the hidden strength within bar (2).
4) No Supply
5) Demand Bar.
6) NS wave. You see, market is telling you – I am feeling good (bullish).
7)This is a manipulated bar. Stop-Loss killing under 7450 level (minor low) before trying to overcome 7650 recent highs.
8)DB.
9)Price hit a major trend line. We should expect a stalling of the bullish pace. While price is holding above 7700 – we should interpret the current short-term #BTC chart from the bullish position.
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