THE DOWNSIDE MAY STILL PREVAIL ON BTC TO $83k-$86k ZONE
From the daily price action, I can see BTC trading below the lower trendline of the the up channel since the last 4 trading days. This may be a confirmation for a sell but there is a need to be very careful as price has refused to make a Lower Low (LL) on the weekly. This calls for serious caution for seller has price has also been trapped in the yellow zone.
If you look very carefully and for those who understand a little bit of SMART MONEY Concept you would see that there is a yet to be mitigated Bearish OB that has not satisfied the three major conditions required for an OB to be valid. It has not been previously mitigated, led to a FVG but none of the subsequent bearish candle closed below the previous weekly low to meet all three conditions and as such there is no clarity on where liquidity may be drawn for for bearish continuation.
However, I see the possibilities of sells from $101.174 or $103,700 if price continues to go higher this weekend. A more solid confirmation would be a weekly bodily close below $88,777.
Overall, I am still bearish on BTC until price action tells otherwise and that would be a strong bodily close above $109,358.
Trade carefully.
If you look very carefully and for those who understand a little bit of SMART MONEY Concept you would see that there is a yet to be mitigated Bearish OB that has not satisfied the three major conditions required for an OB to be valid. It has not been previously mitigated, led to a FVG but none of the subsequent bearish candle closed below the previous weekly low to meet all three conditions and as such there is no clarity on where liquidity may be drawn for for bearish continuation.
However, I see the possibilities of sells from $101.174 or $103,700 if price continues to go higher this weekend. A more solid confirmation would be a weekly bodily close below $88,777.
Overall, I am still bearish on BTC until price action tells otherwise and that would be a strong bodily close above $109,358.
Trade carefully.
FINSPOT ACADEMY
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FINSPOT ACADEMY
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.