Forming Distribution Channel Grinding to ATH
We are entering distribution area where a lot of previous top buyers may want to exit
Not expecting a pump straight through ATH since its a heavy selling area (thick horizontal line at 57)
Instead, could be nice to have a channel going up slowly chewing away at that area before a final pump
Right now might go straight for channel top pre market open or paint IHS to trap bear liquidity to make it easier
If it happens I will be swing trading within this channel, moving increasing focus on alts
Not expecting a pump straight through ATH since its a heavy selling area (thick horizontal line at 57)
Instead, could be nice to have a channel going up slowly chewing away at that area before a final pump
Right now might go straight for channel top pre market open or paint IHS to trap bear liquidity to make it easier
If it happens I will be swing trading within this channel, moving increasing focus on alts
Commento:
btc might have shown near-top just now but crypto has not finished the rally yet, i'll be waiting for the liquidity to move to eth and some alts next