its something that happens alot on BTC and on other markets aswel
Called the 3 drive patten
Its a patten that forms around high Liquidity points off interested.
what happens is we have a spike into or near a point of interest before a small retracement the other way and then we will come down spike the previous high or low giving traders a sense that the market could be turning around giving everyone the sense to jump in to a trade and then usually we end up having another spike down to clear out the early traders from there positions and giving traders the idea we are going to break that area and have some continuation which gives the big money a spot to start filling there orders
as you can see on the chart we have had 2 clear spikes the first one we stopped just befor the previous high and now we have had another spike clearing the previous high by a little
i will now look see if we do get another spike to the top clearing out all early short traders before we finally see some retracement off this massive move we have had over the start the year
Looking at the 3 Drive patten in BTC
its something that happens alot on BTC and on other markets aswel
Called the 3 drive patten
Its a patten that forms around high Liquidity points off interested.
what happens is we have a spike into or near a point of interest before a small retracement the other way and then we will come down spike the previous high or low giving traders a sense that the market could be turning around giving everyone the sense to jump in to a trade and then usually we end up having another spike down to clear out the early traders from there positions and giving traders the idea we are going to break that area and have some continuation which gives the big money a spot to start filling there orders
as you can see on the chart we have had 2 clear spikes the first one we stopped just befor the previous high and now we have had another spike clearing the previous high by a little
i will now look see if we do get another spike to the top clearing out all early short traders before we finally see some retracement off this massive move we have had over the start the year