Hello Dear Friends... Bitcoin Technical Today

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Bitcoin Analysis

First thing first we will go to discuss what happened yesterday I'm expecting that price will likely be held in this zone right so that is what we discussed but that is not the case sometimes the Market will behave vulgarly so you can see the price dumb huge hello so I'm not expecting this more anywhere by, to be honest, but you can see that.

Protecting their position so this is the first sign of reversal that we have so actually using the volume profile We are following the auction Market concept so as per the rule we will get a good reaction when the price comes back to the negative point of control so and this is a happening here and this is a first sign of reversal that by yourself protecting their position and price rally back and it's open the previous day session so as per the volume profile you know when a price starting as of the inside value hit indicate price will Traverse oh my God no sorry price will try a driver so to do that we need price will range inside...

This area then breaks out to the point of control that's what I'm expecting so where is our invalidation for this upside momentum so first you know

First I need the price that will hold this area these are my valuation points right this is an Extreme level but that's not the case I'm looking for because we have a point of control below that so we need to hold this demand area so you need to look if price holding here or not so you can see the inset value pattern ...

All time whenever the price start to trade below the value area when it rallies back to the next section it indicates the price will Traverse this one example here

Another example you can see here price you start trading above the Valley area and its rallies back to the next section we can see here we can see another moment one-two you can see and one is here this is quite a common pattern...

While using a volume profile so you get a good daily directional bias so
one technique I think so sometimes you know when you apply all these rules when you up when you all made the conditions are made sometimes the market not work that has that goes your favor okay so volume profile is not a Holy Grail I keep saying that see now we are going to check the open interest as well we can see there is positions are opening around here right some someone close shows opening long here you can see oil increasing as well as price increasing ...

So this indicates that people are opening positions here so yeah this is a scenario. Don't want to waste your time so this is a quick update of Bitcoin that is what I'm expecting today I hope you enjoy