I have been following the Bitcoin price action locally quite often, and would like to strategize a plan based on the current price action on the charts.
At the moment, I believe we will likely move up to approx $60k to test the Value Area Low of the previous 6 month range. I do believe we will see seller's step in at that level and bring price back down below $50k where the low of the range liquidity can be taken and shoot right back up to grab the liquidity sitting above $70k.
Being that rate cuts are quickly approaching, Im sure there will be some turbulence in the markets , especially around the election time. This uncertainty may bring us some amazing opportunities if we are well prepared.
At the moment, I believe we will likely move up to approx $60k to test the Value Area Low of the previous 6 month range. I do believe we will see seller's step in at that level and bring price back down below $50k where the low of the range liquidity can be taken and shoot right back up to grab the liquidity sitting above $70k.
Being that rate cuts are quickly approaching, Im sure there will be some turbulence in the markets , especially around the election time. This uncertainty may bring us some amazing opportunities if we are well prepared.
Trade active
60k short zoneWill be adding into my short.
Invalidation is a daily close above $61.5k
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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.