Fundamentals are bullish for this pair and we have a bullish monthly order block! Trading it down then up
Looking to short bitcoin here. We have a 2 week bearish order block that price has tapped into. It hs bought into the 4H resistance of the current 4H downtrend. on a lower time frame it seems to b creating a higher low which grabbed equal highs. If I can get confirmation I will short here. If price does not want to hold here it may retrace further up the 2w order...
After an immense move to the downside I am anticipating an equal move to the upside. Looking to take profit before the marked high here is a smart Idea as fundamental news coming out continuously may effect volatility. I also wouldn’t be surprised if we had one more sweep to the sell side before heading up.
Price has come to a major level of resistance and has broken 4H structure signaling a willingness to start breaking down. There is a large gap resting below that needs to be filled.
Entry was moved up from initial idea. Price to sell to fill the opening gap.
Entry was moved up from initial idea. Price to sell to fill the opening gap.
Bitcoin looks to be filling a higher time frame Imbalance below around 53k. This is just taking a small chunk. If this entry doesn’t hold then there is a gap a bit higher up that I could also see it selling from.
Buyside sweep to continue sell into deeper sell side LQ
Just an idea. Will wait for a market structure shift and a fill of that displacement towards the upside of the market.
Here is were I will be taking profit today in relation to the longer term idea I had posted with a monthly goal.
Price is setting up again. As said before the 50% of the monthly candle is a very long term goal. I will look to take profit at the TP 1 line on my chart here. The 50% of the daily gap would be good as well. Free fall time?
If price gives me confirmation on the lower time frame I will look to sell. If this is the weekly pivot then price should trend down for at least today ad some of tomorrow.
Oil has retraced to the .78 fib of the most recent bullish breakout. Looking for buys