Range break out ! What you need to know?
Updated
Hello traders 👋! I already shared an idea 💡that btc will be ranging this week-end from 39,370$ to 39,930$ 💵 (see the chart bellow) but the real question is WHEN RALLY and WHERE ?
I think the first movements we that will be seeing is at the Asian trading session 🐉 begining, In this session we will be seeing a fakeout or a stop loss hunt to the opposing side than a rally to the main trend direction.
Put simply, if the market makers wants the prices to go down, they will do a fakeout to the top hiting the short SL by making a new high than heading to the bottom. or heading to the bottom Hitting the long SL than going back to the top ! This is known as "LIQUIDITY GRAB"
This pattern is exclusive for post week-end trading !
______________________________________________
So, where are we heading ?
DOWN ! WE"RE GOING DOWN ! 📉
Why ?
THE FED. The federal reserve declarations latetly has been causing the markets to rush into fear 😱 specially the declarations about selling their risky assets and rising interest rates to fight inflation caused by the distribution chain & the Russian war.
Therefore, we will be seeing more downtrend in correlation with the S&P500 index, since lately BTC has been correlated 70% with the NASDAQ & more than that with the S&P.
If you found this idea insightfull please hit the like button and share with me your opinion down in the comment.
I think the first movements we that will be seeing is at the Asian trading session 🐉 begining, In this session we will be seeing a fakeout or a stop loss hunt to the opposing side than a rally to the main trend direction.
Put simply, if the market makers wants the prices to go down, they will do a fakeout to the top hiting the short SL by making a new high than heading to the bottom. or heading to the bottom Hitting the long SL than going back to the top ! This is known as "LIQUIDITY GRAB"
This pattern is exclusive for post week-end trading !
______________________________________________
So, where are we heading ?
DOWN ! WE"RE GOING DOWN ! 📉
Why ?
THE FED. The federal reserve declarations latetly has been causing the markets to rush into fear 😱 specially the declarations about selling their risky assets and rising interest rates to fight inflation caused by the distribution chain & the Russian war.
Therefore, we will be seeing more downtrend in correlation with the S&P500 index, since lately BTC has been correlated 70% with the NASDAQ & more than that with the S&P.
If you found this idea insightfull please hit the like button and share with me your opinion down in the comment.
Note
We broke the channel and we got back to it, ouufff such a shakeout !Note
LONGEntry : 39,451 - 39,500 $
SL : 39,329
TP : the top of the channel
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