Building upon my previously published concept, it appears that the DXY has staged a false breakdown (took liquidity), while BTC has mimicked an upward surge and took liq as well.
Additionally, the minor parabolic movement has been disrupted. If there is another breach of the significant 4-hour swing low, I believe it could result in a rapid decline to around 42,200.
At this moment, I would advise against initiating a short position. Instead, I recommend waiting for a confirmation and a retracement to the order block near 64,400. At that point, one might consider taking a low-risk, high-reward short position. Best of luck to everyone!
Additionally, the minor parabolic movement has been disrupted. If there is another breach of the significant 4-hour swing low, I believe it could result in a rapid decline to around 42,200.
At this moment, I would advise against initiating a short position. Instead, I recommend waiting for a confirmation and a retracement to the order block near 64,400. At that point, one might consider taking a low-risk, high-reward short position. Best of luck to everyone!
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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.