The pullback hasn't ended, keep an eye on this!
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Firstly, I want to say I'm sorry because I didn't announce I was going to take a break from posting this week. But I'm back. Bitcoin broke the 46.2k nPoC (check previous Weekly Review post) right after I published my thoughts, and ww rallied until 48k. After that, we started to see a pullback to around 44k, which got bought up.
The main thing I see on this week's price action is that price failed to set a higher high, and, to be even more bearish, it flipped the support level at 47k (0.618 fib, weekly PoC and anchored VWAP) to resistance. But this is not enough. We also see that, on the volume profile, that most of the volume traded is at the top, meaning that a consolidation is what whales are looking for.
My targets stay the same (again, check the last Weekly Review): mainly the FVG sitting at 43k. I do expect some crabbing around these prices at the start of the week, to be honest. Lastly, I want to thank you again for reading my posts. Have a good trading!
The main thing I see on this week's price action is that price failed to set a higher high, and, to be even more bearish, it flipped the support level at 47k (0.618 fib, weekly PoC and anchored VWAP) to resistance. But this is not enough. We also see that, on the volume profile, that most of the volume traded is at the top, meaning that a consolidation is what whales are looking for.
My targets stay the same (again, check the last Weekly Review): mainly the FVG sitting at 43k. I do expect some crabbing around these prices at the start of the week, to be honest. Lastly, I want to thank you again for reading my posts. Have a good trading!
Nota
Good as of now
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