💡Locally, the price should return to the discount zone in order to fill the bearish imbalance on the daily TF, and even a little more locally, the 4-hour imbalance too, and then go for a further decline along the trend
💡Globally, we see that the price has not yet reached the discount zone, and we can expect a further markdown of the asset to the problem zone in the form of a magnet for the price - daily imbalance.
📊We have the air in the zone where we can give a local or a little more bounce :)
🎮We tested the middle of 4 hours of imbalance. If you draw the upper and lower trend lines, you will notice that the price has almost approached the lower trend line, we can go down to test it, or we can go up from the current ones
🔴Globally, we drew the “Head and Shoulders” figure, we completed the same “Right Shoulder”
🔴You can also notice the global trend by drawing the “Right Shoulder”, we tested this trend and gave a logical downward reaction
🔴 We see the global resistance level, the asset made a false breakout of this level, and the support level indicated on the chart, this zone will be the target of our setup.
⚠️IMPORTANT⚠️
So, when should you come in? ️
💡Locally we have formed a “Head and Shoulders” figure, and we see the level of support on the hourly, to be completely safe, we will wait for the consolidation at 4 hours under this zone, and then we can enter the position.💡
What has changed since the last review: ✅We tested the daily imbalance, but did not see the proper reaction. Now the highest green option.
✅On top we have accumulated enough liquidity from swings, and EQH.
During the day we see an ascending triangle figure. Now we are in the support zone and above the trend.
🟢The green option is valid until the price of 1D consolidates below support According to Fibo, we are in the zone of a set of positions - OTE, and we have also completed the handle of the "Cup with Handle" pattern
🔴If we gain a foothold below the support, we can go to the next support level, thereby working out a double top
😃Yes, it happened, we tested the middle of the daily imbalance.
❓What's next❓
🔼Still, at the moment we can expect a move towards a break, as the following bullish factors indicate this:
🟢SPRING formation in Wyckoff reaccumulation
🟢We are now in fairly strong support, in the form of a daily imbalance and a 4h block order
🟢On the daily TF, you can notice the end of the 4th wave of correction
🟢In the side view we see manipulation of loyi, which also indicates an upward move from the current ones, and liquidity in the form of EQH has accumulated there
⚠️But what if we go lower?
☄️If we go lower, we will stop near the nearest support zone and trade some more there. Your opinion?
1️⃣ We have established ourselves above the downward trend and are now testing it😌
2️⃣ At 4 hours we had an OB, and in this same OB, at 2 hours a BPR was formed, namely an unfilled bearish and bullish imbalance in the same zone, which represents strong support 💪
🟠We went according to the orange scenario, you can see it in the previous review.
👀Let's figure out what's next:
⚪️ On bitcoin, we tested the 8 -hour order of the block and formed a saboteur at 4 hours. I expect local growth to trend, then a further descent to the day of daytime imbalance. If we follow this scenario, we will form a bullish pattern - the Dragon.
Now let's look at the graph from Wyckoff's point of view 👀
‼️The schedule is very similar to reaccumulation We saw the manipulation of SOW (b)
We have 3 options here:
🔵The first option is to bounce off the support (4h OB) and go shoot EQH, that is, forming a deviation from above (UA), and then without SPRING, just continue the upward movement
🟢Second option - Go to remove EQH from the current ones, forming UA, and then return to the range and go to form SPRING, thereby filling the daily imbalance, before the final takeoff.
🟠Third option - From the current ones, go to update the loy by forming SPRING, filling the daily imbalance, and after that go to conquer the overhaul
🟢We expected a local rebound from support - we got it. Yesterday positive news came out, that’s why we received such a reaction, the news was included in the schedule🤌😌
❓But what's next?
From the point of view of SM and TA we have 2 options:👀
🟢At 4 hours we formed a pretty good OB, which serves as support, we can go to test its middle, and then go shoot EQH.
🔴Or we can make another break, this will test the daily imbalance and then go higher.
️For the first scenario to happen, we need to gain a foothold at least first above the first resistance zone.