BTCUSDT 24 SEPTEMBER 2021 1905 hrs for BINANCE:BTCUSDT by dee718

You can see the demand spikes where you would expect them. i have two areas circled on the left that are very important target areas.

Previous no supply test can sometimes cause a complete change in direction. Not saying that is the case at this moment but you can even see how it got slammed with stopping volume at this price level.

Below in the second circle you notice a spring (Bear trap, fake break out). This area is also important to watch as it can be a potential reversal area if the volume situation is setting up for that.

In my opinion the supply pressure n the overall picture is low. People are being shaken out as we speak. The “weak hands” are jumping ship and waiting to fight another day.

We minimize being in this position by waiting and looking for evidence of accumulation at target areas like discussed above.

Check out Pete Faders on YouTube for a way higher level and more thorough explanation. Thats where I learned most of this from… its freely available information that can really turn you into a pro if thats something you want to do.

My other resources (also mostly freely available):

Sources of education:

Richard Wyckoff

Tom Williams Volume spread analysis VSA / Master the Markets

Pete Faders VSA*
Sam Seiden ( supply and demand )

Read the ticker dot com

Wyckoff analytics



Element 15 trades (bitchute/odessy)

Avoid buying into weakness/supply/resistance

Avoid selling into strength/demand/support

Avoid entry when price is in middle of a range (phase B)

Source link