BTC in an equilibrium patern

The equilibrium pattern has repeated several times since the march dump.An equilibrium pattern forms after an impulse and it is just price settling around a POC. After narrowing of the range, market makers decide to take it up or down. The odds of a breakout in either direction is usually 50% but since since march, the pattern had the propensity to break up.

A break up will squeeze the shorts and will test the 4h 200ema which is crucial for overall trend determination.

Kommentera:

triangle still holds add a falling wedge