Bitcoin - Weekly Supply line break & checkback for INDEX:BTCUSD by TradingNomadic
Presuming we're following a similar path as 2022's low here, youd be looking for a recovery of Februarys closing range low at about 65,600, and the previous trend acceleration. Monthly is sitting on top of 2021s initial highs, similar to how 2022's did. July 21st is traditionally a major pivot date for Bitcoin, if we see a recovery of the range this week, id say its fair to call it. Been following the BITO chart as well in the spring stage of wyckoff accumulation. Similarly, a recover …
Presuming we're following a similar path as 2022's low here, youd be looking for a recovery of Februarys closing range low at about 65,600, and the previous trend acceleration. Monthly is sitting on top of 2021s initial highs, similar to how 2022's did. July 21st is traditionally a major pivot date for Bitcoin, if we see a recovery of the range this week, id say its fair to call it. Been following the BITO chart as well in the spring stage of wyckoff accumulation. Similarly, a recover there for the test phase, could be the antagonist for the first real bull run the ETF has seen. Falling beneath this new low here would be a major change in behavior for bitcoin, and it gives me a little more confidence that we've already found the low, because i think the alternative, and the significance of breaking under previous all time highs is far less likely. Make or break it here. Chart PatternsTrend AnalysisWave AnalysisDisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.