$BTC - Big players are making their distribution

3 gün önce

After 4 months of growth, BTC sees this week the change in its Monthly Heiken Ashi candle (step line in black).

On the vertical volume scale of 20 months, there is no notable strength.

I like to use the 3-month simple moving average (yellow line) and the 1-year simple moving average (purple line) to track the trend. I believe it will target the 1-year simple moving average, where there is a high-volume region in the 20-month history (blue highlighted area with 34% of the volume compared in 5 ranges).

I do not expect an increase in March, maybe in April if this is a pullback move. If that's the case, 75k-80k is a good entry as long as it doesn't go beyond the 1Y SMA.

11 saat önce

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I entered a short position at 86,940.88.

The price made a strong pullback with high volume until it hit the downtrend line with peaks on 01/30/2025 and 02/21/2025.

After that, the price continued down to the Heiken Ashi Daily low but still didn’t break the low of the previous day’s candle.

Another reason is that the price also hit the 1-month Exponential Moving Average, which remains above the 2-week Exponential Moving Average.

Looking at the Weekly Heiken Ashi, the downtrend continues.

Looking at the Monthly Heiken Ashi, February closed with a break below the previous month’s low, but not at the close, and started this month with a decline, showing so far that it wants to maintain the formation of the new long-term downtrend.

March is going to be a huge institutional battle for buyers, trying to end the distribution sequence.