1. MARKET OVERVIEW
BTC has been respecting a Descending Trendline since the start of the year, but it has just recently broken out of the Trendline to the upside making this year's high(@$110k) a possible target. This week's Price Action will give us more insight on price willingness to want to continue higher.
2. KEY LEVELS I'M WATCHING
* Supply Zone: 86,186 - 87,333.
* Demand zone: 75,756 - 77,880
3. TRADE BIAS & SCENARIOS
Price is currently engineering Liquidity for the Supply Zone so if price trades above 86,100 it'll be a good idea to short BTC. But my personal Bias going into this week is to see bullishness on BTC so i'll only be interested in Longs around my Demand Zone (after price has taken out the low 78,464.36).
5. FINAL NOTES
No rush to enter early in the week-let price come to me.
Stay Patient and follow the plan.
Sorry guys for lack of snapshots from my tradingview, i'm new to this part of tradingview so i'm not YET eligible to post external links on my ideas. But if you go to your charts and map out my KEY LEVELS it'll make perfect sense why i'm looking out for these levels.
BTC has been respecting a Descending Trendline since the start of the year, but it has just recently broken out of the Trendline to the upside making this year's high(@$110k) a possible target. This week's Price Action will give us more insight on price willingness to want to continue higher.
2. KEY LEVELS I'M WATCHING
* Supply Zone: 86,186 - 87,333.
* Demand zone: 75,756 - 77,880
3. TRADE BIAS & SCENARIOS
Price is currently engineering Liquidity for the Supply Zone so if price trades above 86,100 it'll be a good idea to short BTC. But my personal Bias going into this week is to see bullishness on BTC so i'll only be interested in Longs around my Demand Zone (after price has taken out the low 78,464.36).
5. FINAL NOTES
No rush to enter early in the week-let price come to me.
Stay Patient and follow the plan.
Sorry guys for lack of snapshots from my tradingview, i'm new to this part of tradingview so i'm not YET eligible to post external links on my ideas. But if you go to your charts and map out my KEY LEVELS it'll make perfect sense why i'm looking out for these levels.
Note
BTC UPDATESaw a LTF Trade idea after price retested that Descending Trendline on the M30. I'll be executing on this Trade Idea for a Long position if price gets to my entry point ($83,500 - $83,800).
Lemme know what you guys think in the comment session about this my trade idea.
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.