Value area analysis around $79.8-80k, wick of hopelessness bounce strategy explained.

Is this support if you're in the cast book through VIP discord oftentimes we're looking at the price action And we're determining i'm saying hey i'm not long yet or this for that or I am long now because of this for that Right, we're coming down. We're looking. We're waiting And then we're looking for a bounce from this area. All right, basically dipping just a little bit below $80,000 To back test the value area high of this range here Right, we might get a deeper wick a lot of times what you'll notice is Because there let me pull the volume profile in this by the way guys Right, let's pull this So our value area high coming in around 79.8 Right, we we oftentimes when we build liquidity like this we wick deeper than people want People who are looking for that first liquidity grab we might get a little bit they get wrecked we come down another wick This is called the wick of hopelessness. That's when we actually bounce right when people stop trying to catch the knife That's where we bounced right so this has given us enough time to give the hook of the wick of hopelessness people Stop trying to catch knife. I find i'm out right boom. That's where we bounce from and in this instance Very similar. All right, we have our clear Plan which is a beautiful risk to reward ratio, right?