I called the liquidation of the 3920 level when I went short on bitcoin at 4060$. We are still in the range and I think that we will probably liquidate the last liquidation level before pumping up past 4100$.
Here we have BTC/JPY pair. I bet you noticed the weird price action of bitcoin. The price is slowly descending lower. I’d say that BTC/JPY is trying to tell us that it’s going to liquidate the last order block before pumping up and taking the liquidity in the hot zone.
Now I’d like to talk about gaps. As you can see there are many gaps on bitcoin. When it occurs, most of the time it gets taken out. I’d say that this is a good sign of Bitcoin showing us that it will wick down one more time to fill the gap and then I’d see the pump coming.
Now if you made it to this point I’d like to thank you for reading my article. I hope I’ve been helpful to you. Feel free to follow me on twitter: @patrick_xlout. I also started a little program where I coach/teach how I execute my trades and everything that I learned about trading. If you were interested or had any other questions please send an e-mail to firstname.lastname@example.org and I will make sure to help you and make you a better trader!
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