BTCUSD, Distribution Schematic #1.
Currently reacting to Daily Order Block, but is it sustainable Long term? I'm not so sure, I think we will see short term bullish momentum to around 50k (Whales / Institutions pushing price up to persuade retailers into buying more before selling off (''Typical Manipulation'') before selling off deeper into the 20k region potentially!
I personally wont be buying any BTC any time soon!
Another thing to note, Market Structure = Bearish. Momentum = Very Bearish. If / when price does reach 20k, that will be a whole different story and I shall update you. But for now I thought I would share my opinion as it was requested.
Reminder: I'm not a Crypto trader nor expert by all means, this is just based mainly on 'Price Action' via a documentary basis. Always do your own due diligence.
Thank you and happy trading!
I personally wont be buying any BTC any time soon!
Another thing to note, Market Structure = Bearish. Momentum = Very Bearish. If / when price does reach 20k, that will be a whole different story and I shall update you. But for now I thought I would share my opinion as it was requested.
Reminder: I'm not a Crypto trader nor expert by all means, this is just based mainly on 'Price Action' via a documentary basis. Always do your own due diligence.
Thank you and happy trading!
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