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BTCUSDT Short 15 / 5 Minutes Selling Scalping Levels (24 May 23)It appears that the market is consistently experiencing selling pressure. Referring to my previous analysis, if we fail to reach the buy side levels, I have identified new sell targets. These targets will come into effect once the price remains below 26,600 and breaks the level of 26,500. As long as that level remains unbroken, there is still a possibility of bullish activity in the market. However, if the level is breached, it indicates a bearish trend for today and potentially for the upcoming days.
Short
by masterztrade
BTCUSDT Short 15 / 5 Minutes Scalping Levels (24 May 23)Based on last analysis shared we were able to meet Target 1,2 and 3 respectively, however T4 was only half way through. Which now has created a new strong Resistance zone near 27,450-27,500. Market is still range bound. Presently taking support (26,720 approx.) on Sunday's May 21st day's low and has created high of 27.495. Most of trading levels are still same and buying on dips will be better trading strategy for the day until we retest the high of 27,495. Until 26,500 is not broken I don't see Short selling as better option. What we saw in morning was a Pivot Pressure Trade. As soon as price was saw rejection form today's daily pivot of 27,170 it showed sharp fall of 1.88% ( 500 Points), however now price is moving within range and trying to give a uptrend move.
by masterztrade
BANKNIFTY--PlanA Or PlanB Or PlanC ??Observations: NSE:BANKNIFTY price is clearly in a range between the demand zone and supply zone. its clearly a range bound market. we are still in the uptrend only, in bank nifty ,no sign of bearishness in the market at all time high also. price broken the demand zone at 43950,closed above the demand zone. and tested the supply zone forms at 44120 levels. now we cannot decide the momentum of the bank nifty until further price action is to be identified. If supply zone breaks and showing some sign of bullishness, we need to aware that at ATH we can expect a falls breakout moments as well @44150 levels. price showing bearishness but it will not create any fresh lows. until it creates a fresh lows keep in the same direction of market trend. Note:: price is below Supply zone, price clears demand zone, as per the trend we need to listen to market momentum, its clearly in uptrend. Price at any moment can its change its direction from bearish to bullish, as higher time frame is bullish. Plan A:: Breakout continuation Plan B: Fake Breakout. Plan C:: Gap down and reversal to supply zone and falls back.
NSE:BANKNIFTY
by IIT-Trader
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