#Bitcoin | Inducement Range As We Go Through Elections
Given the current uncertainty surrounding the elections, I anticipated a rejection off the open wick at the range's high, which could initiate a consolidation phase characterized by lower-time-frame inducement. This setup aims to engineer additional liquidity around the 73k high.
Analyzing the present market structure reveals two sharp impulsive moves, with price currently ranging above the sell-side liquidity pool. It appears rational to expect a manipulation leg down to the 63k - 64k range before we ultimately clear the highs and enter a phase of price discovery.
As we enter this price discovery phase, I believe it will trigger significant liquidations from short sellers, creating upward momentum that pushes the price even further. Following this expansion, I foresee a final consolidation forming at higher levels. This consolidation may be tight enough to catch traders off guard before the price breaks above the previous high, which I expect will lead us to the fifth wave of the fifth macro wave, effectively topping the current market cycle.
Analyzing the present market structure reveals two sharp impulsive moves, with price currently ranging above the sell-side liquidity pool. It appears rational to expect a manipulation leg down to the 63k - 64k range before we ultimately clear the highs and enter a phase of price discovery.
As we enter this price discovery phase, I believe it will trigger significant liquidations from short sellers, creating upward momentum that pushes the price even further. Following this expansion, I foresee a final consolidation forming at higher levels. This consolidation may be tight enough to catch traders off guard before the price breaks above the previous high, which I expect will lead us to the fifth wave of the fifth macro wave, effectively topping the current market cycle.
Trade ativo
I think this invalidated? lmfao
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.