BTCUSD: Potential Bullish Reversal - Buying Opportunity @ $98000
MARKET ANALYSIS
The current market trend appears bearish on higher timeframes, with lower highs and lower lows. However, the lower timeframe shows a potential bullish correction.
KEY OBSERVATION
- Higher timeframe (1-hour): Bearish trend, lower highs, and lower lows.
- Lower timeframe (5-minute): Potential bullish correction, higher lows.
- Misalignment between timeframes: Higher timeframe bearish, lower timeframe bullish.
- Liquidity zones: Higher timeframe (106,000-107,000), lower timeframe (98,000-99,000).
TRADE SETUP
Wait for better market conditions and alignment before entering a trade.
ENTRY POINT
Wait for potential liquidity sweeps around the lower timeframe support at 98,000.
ENTRY CRITERIA
- Bullish confirmation (e.g., bullish engulfing candlestick).
- Cautious long entry.
RISK MANAGEMENT
- Stop Loss: Below the recent swing low or fair value gap (97,500).
- Take Profit 1: Next resistance or liquidity zone (101,500).
- Take Profit 2: Higher target (104,000) if bullish momentum continues.
INVALIDATION CRITERIA
- Price fails to hold support at 98,000.
- Breaks the short-term ascending trendline.
- Forms a strong bearish candle.
REMINDER
Wait for confirmation and avoid impulsive entries to ensure higher probability trades.
The current market trend appears bearish on higher timeframes, with lower highs and lower lows. However, the lower timeframe shows a potential bullish correction.
KEY OBSERVATION
- Higher timeframe (1-hour): Bearish trend, lower highs, and lower lows.
- Lower timeframe (5-minute): Potential bullish correction, higher lows.
- Misalignment between timeframes: Higher timeframe bearish, lower timeframe bullish.
- Liquidity zones: Higher timeframe (106,000-107,000), lower timeframe (98,000-99,000).
TRADE SETUP
Wait for better market conditions and alignment before entering a trade.
ENTRY POINT
Wait for potential liquidity sweeps around the lower timeframe support at 98,000.
ENTRY CRITERIA
- Bullish confirmation (e.g., bullish engulfing candlestick).
- Cautious long entry.
RISK MANAGEMENT
- Stop Loss: Below the recent swing low or fair value gap (97,500).
- Take Profit 1: Next resistance or liquidity zone (101,500).
- Take Profit 2: Higher target (104,000) if bullish momentum continues.
INVALIDATION CRITERIA
- Price fails to hold support at 98,000.
- Breaks the short-term ascending trendline.
- Forms a strong bearish candle.
REMINDER
Wait for confirmation and avoid impulsive entries to ensure higher probability trades.
Disclaimer
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