BTCUSD. Preparation for Pump
The market produced a fake breakdown of Blue (Resistance) – Red (support) wedge, currently price is trading inside the wedge. Briefly, strong markets do not behave like this.
What’s in the background?
Previously, I wrote:
My outlook remains bearish. But bulls are demonstrating that 7k has enough demand to reject attacks of bears. While price hold below 7300 – selling ideas should have a priority.
As bulls were capable to push the bitcoin price higher than 7300, we have to consider the demand is strong beneath the bars.
More confirmations – from cluster chart.
- SLKB under 7k
- SLKB under 6900.
- Demand Bar. Bears Trapped. No chance to escape.
Fast recovery from 6900 up to 7300 gives a strong indication. This is typical behavior for the bullish change in character.
What is next?
Join Private Community to Read the FULL article
Home
Yes, You Can Become a Professional Chart Reader
To build success in any business, you should rely on things that really work.
In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.
Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!



Enter your email to Download books
No spam is guaranteed.