BTC (Y25.P2.E6).Likely fractal

124
Hi Traders,

I'm looking at this level as a likely scenario.
Why?
Its happened x2 in the past when we made ATH.
A 12 and 14% retracement.
The liquidity is there, the incentive is there and a low like this will make people sell as to think the bull run is over.

We have our levels to trade for shorts and longs but ultimately, I think it will make its way down to here.

As per my post, this current level was a long entry and I'm in a long, however its not the response I was hoping for.
So its likely a scalp trade and hence I will be looking for a short as well.

All the best.
S.SAri

Y24, March ATH
snapshot

Y21 ATH
snapshot


current support, AvWap
snapshot
Trade active
snapshot
we entered a long here for a scalp trade however I'm expecting the 50 D ema not to hold and that we go further down towards the 0.382 fib along the AVWAP and nPOC ... strong support region and equates to historical pullbacks btw 12% to 14% when we make ATH.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.