#BTC
From the past 9 hours of Bitcoin, there are still two expectations here: One is that it has already moved out of a low-to-lower-high and is moving upward in a channel. Here, at the arrow point, the volume during the spike up to 795 and the selling pressure are both decreasing. This is the standard volume-price behavior for a breakout of a low-to-lower-high upward channel. If we follow the channel, then around 78 is likely the lower edge of the channel.
If it breaks below the channel, then the red scenario would play out: it would go to around 763 to perform a breakdown-and-reclaim test! Then it starts moving up.
From the order book, during the sideways consolidation, open interest is increasing while the contract CVD is declining. This suggests that during the consolidation, a fair amount of shorts are opening and shorting.
From the past 9 hours of Bitcoin, there are still two expectations here: One is that it has already moved out of a low-to-lower-high and is moving upward in a channel. Here, at the arrow point, the volume during the spike up to 795 and the selling pressure are both decreasing. This is the standard volume-price behavior for a breakout of a low-to-lower-high upward channel. If we follow the channel, then around 78 is likely the lower edge of the channel.
If it breaks below the channel, then the red scenario would play out: it would go to around 763 to perform a breakdown-and-reclaim test! Then it starts moving up.
From the order book, during the sideways consolidation, open interest is increasing while the contract CVD is declining. This suggests that during the consolidation, a fair amount of shorts are opening and shorting.
