Bitcoin recently jumped out of an aggressive resistance around 40826, which then appears like an upward channel. A,B,C,D represents the stages of accumulation and the last one stage E represents a breakout stage which signals a bullish confirmation.
Lps mean (last point support) - I marked 44041.86- BTC jumped up from 44041.86 to 50474.26, In my view this shows a significant aggressive and passive buy orders executed. passive and aggressive sellers jumped in around 50474.26 and then pushed the price back to 46844.64 - price the respected the significant volume cluster around 46844.64 up to the current price.
A previous price action on around 49012.20 shows a significant reversal , so if BTC pushes up to 507474.26 then gives retest around 49012.20 to finish bullish continuation business.-Long with confirmation
In case it doesn't breakout- then I still expect a retest around the volume cluster region before bullish continuation
Lps mean (last point support) - I marked 44041.86- BTC jumped up from 44041.86 to 50474.26, In my view this shows a significant aggressive and passive buy orders executed. passive and aggressive sellers jumped in around 50474.26 and then pushed the price back to 46844.64 - price the respected the significant volume cluster around 46844.64 up to the current price.
A previous price action on around 49012.20 shows a significant reversal , so if BTC pushes up to 507474.26 then gives retest around 49012.20 to finish bullish continuation business.-Long with confirmation
In case it doesn't breakout- then I still expect a retest around the volume cluster region before bullish continuation
