A W-shaped recovery is an economic cycle of recession and recovery that looks like the letter W on a chart. In a W-shaped recovery, price experiences a sharp decrease for an extended period of time, followed by a sharp rise to test some near resistance levels, a sharp decline to retest the recent lows, and then another sharp rise above the recent resistance levels. This back-to-back drop and bounce gives form to the W-shape pattern formation.
Today we take a look at the technicals for Bitcoin and Ethereum. The crypto market has been quiet for several months. On Friday we detected unusual dark pool activities (large block orders) in the Bitcoin Trust Fund and Ethereum Trust Fund, GBTC and ETHE respectively. When smart money know something, they place large orders in the dark pool exchanges, away from the public eye. By doing so, they are positioning themselves ahead of the crowds, in order to benefit from move that will follow, once the news or report is made public. However, dark pool activities do not tell us the direction of the next move. It only tell us that a large order(s) has been placed. Only a breakout (bullish) about a resistance level, or a breakdown (bearish) below a support level can confirm the direction of the next move. So, what can we expect next? Watch this video to find and to get the technical insights. Good trading! Trading Risk Disclaimer All the information shared is provided for educational