I think Bitcoin's price could stay between 88K-90K or test lower levels, but it hasn't closed below 93K weekly. If it moves up to 120K, it could be a good trading chance, but it might just be a distribution phase before a drop in Q2 or Q3. These are just ideas, not sure if right, and I could be wrong.
Bitcoin - loosely held opinion / thoughts
I like the idea of price holding the 88-90K range as support, while remaining open to a potential retest of the lower bounds of the range / build a local base.
Notably, over the past several weeks, price has yet to close below 93K on a weekly basis.
While I’m not particularly a proponent of Wyckoff theory, an UTAD into the 120s would present an excellent trading opportunity - assuming this entire range is a distribution phase preceding a corrective move in Q2/Q3.
Of course, these are just possibilities nothing definitive. Just a loose perspective on how I might approach the market, without getting too caught up in the details and theres a very good probability Im wrong here.
Bitcoin - loosely held opinion / thoughts
I like the idea of price holding the 88-90K range as support, while remaining open to a potential retest of the lower bounds of the range / build a local base.
Notably, over the past several weeks, price has yet to close below 93K on a weekly basis.
While I’m not particularly a proponent of Wyckoff theory, an UTAD into the 120s would present an excellent trading opportunity - assuming this entire range is a distribution phase preceding a corrective move in Q2/Q3.
Of course, these are just possibilities nothing definitive. Just a loose perspective on how I might approach the market, without getting too caught up in the details and theres a very good probability Im wrong here.
yes
Bitcoin - loosely held opinion / thoughts
I like the idea of price holding the 88-90K range as support, while remaining open to a potential retest of the lower bounds of the range / build a local base.
Notably, over the past several weeks, price has yet to close below 93K on a weekly basis.
While I’m not particularly a proponent of Wyckoff theory, an UTAD into the 120s would present an excellent trading opportunity - assuming this entire range is a distribution phase preceding a corrective move in Q2/Q3.
Of course, these are just possibilities nothing definitive. Just a loose perspective on how I might approach the market, without getting too caught up in the details and theres a very good probability Im wrong here.
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