There are two ways how you can trade #bitcoin in this period depending on your bias and your style of trading.
First, you can see a clear side range move, which gave you good opportunities for longs and shorts in this area. With proper risk management and right SL's, you could have good trades.
Another option is ascending channel and break out from it. You can clearly see that volume POC is holding the price and does not let it to come back above it. To move the price we need a lot of volume and new OI to break through above. Last weeks #bitcoinetf was having record high outflows, which does not suggest about new money coming in.
Remember, market bias and opinion can change any moment, therefore learn to adopt to market and learn to change your opinion fast following fundamentals and market trends.
First, you can see a clear side range move, which gave you good opportunities for longs and shorts in this area. With proper risk management and right SL's, you could have good trades.
Another option is ascending channel and break out from it. You can clearly see that volume POC is holding the price and does not let it to come back above it. To move the price we need a lot of volume and new OI to break through above. Last weeks #bitcoinetf was having record high outflows, which does not suggest about new money coming in.
Remember, market bias and opinion can change any moment, therefore learn to adopt to market and learn to change your opinion fast following fundamentals and market trends.
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.
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.