Mix of clean price action, volume and price analysis to predict Bitcoin price action post Nov 2.
Key element on this chart is the braking volume halting the subsequent down move prematurely and transitioning the price action into consolidation zone.
Next is the breakout of consolidation zone but rejection of fib breakdown level.
If you study this chart carefully with unbiased view can easily see that despite being in a clear downtrend bullish elements are tipping the scale.
In this analysis I have also used external heatmaps that cannot add them to the chart, but basically the heatmaps are showing extreme levels of liquidity at 19K, 18K, 15K and 10K with almost no liquidity up to 30K
This means, market makers will never service retail demands and will always follow path of least resistance which in this case is north.
Key element on this chart is the braking volume halting the subsequent down move prematurely and transitioning the price action into consolidation zone.
Next is the breakout of consolidation zone but rejection of fib breakdown level.
If you study this chart carefully with unbiased view can easily see that despite being in a clear downtrend bullish elements are tipping the scale.
In this analysis I have also used external heatmaps that cannot add them to the chart, but basically the heatmaps are showing extreme levels of liquidity at 19K, 18K, 15K and 10K with almost no liquidity up to 30K
This means, market makers will never service retail demands and will always follow path of least resistance which in this case is north.