What can happen to the price of bitcoin before the end of the week

By Danyakot | a whole day of positivity | 10 Jul 2020



Price Action and VSA
The classic version with the UT pattern eloquently signals the reluctance of buyers to push the price higher.

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An aggressive bear appeared, which sent voluminous volatile bars down to the target values with a high angle of attack. However, even on the vertical histogram, you can see increasing pressure, which indicates a high probability of upward correction. The update of the extreme Loy was unsuccessful, which further indicates the need for a volatile rebound to the top with outliers. Taking into account the presence in the database, the target will be the Creek level ($9325)

Horizontal volume profile
We have reached the important volume zone of $9100-9180, from where we can already look for options for a reversal. When approaching POC 9140, protective volumes jumped out, which are already positioned as purchasing volumes. Given the market conditions, we can expect the beginning of the recovery of the bitcoin price before the end of the week.

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However, we are still in a balanced environment, and an important resistance for us is the $9370-9400 zone. When entering a long position, part of the position should be covered at these marks.

Analysis of the Delta
The last hit of sellers was characterized by an abnormally high selling Delta, which indicates the presence of a large number of limit purchases in this area.

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Conclusions
I expect the recovery of purchases from the $9100-9180 zone to the primary resistance of $9370-9400, from where sales can resume. Friday can be quite volatile, so be careful with short stops.

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Danyakot
Danyakot

multi-faceted personality.Twitter @Danyakotov


a whole day of positivity
a whole day of positivity

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