HELLO TRADERS, WE ARE HERE AGAIN FOR QUICK SHORT
Our trade is finally developing exactly as expected. On Friday, in the Asian session, when lately there is usually the highest volume of trades on Bitcoin, we created a vPOC (volume point of control) at the level of $17194, where there was the highest number of total traded orders on Friday, which predicts that the market will return to this level due to liquidity "fuel" for further movement
Since for the Volume Profile I follow the chart structure displayed in 30-minute candle intervals, it was necessary to wait for the confirmation of the price action so that it closes the current candles deeper below this level, which of course means for our prepared trade that we can open a transaction. I currently set the stop-loss much higher than usual due to the weekend's unexpected volatility and the last unsuccessful trades, but I balanced it with a larger position, so my trading plan still works
In the next week, where I expect extremely high volatility due to events connected with prepared statements, due to assumptions of a dovish policy from the FED, the market which has been holding an up-trend for 2 weeks will complete the valuation of this information, which was announced in the second half of November.
So why SHORT?? It is more than likely that December will be green on the markets and the only possible support for bullish swing positions is around the level of $16975, which if bitcoin does not hold on the 4H chart we will go much lower, of course we want to see a rebound and bullish positions up to at least $18500
Our trade is finally developing exactly as expected. On Friday, in the Asian session, when lately there is usually the highest volume of trades on Bitcoin, we created a vPOC (volume point of control) at the level of $17194, where there was the highest number of total traded orders on Friday, which predicts that the market will return to this level due to liquidity "fuel" for further movement
Since for the Volume Profile I follow the chart structure displayed in 30-minute candle intervals, it was necessary to wait for the confirmation of the price action so that it closes the current candles deeper below this level, which of course means for our prepared trade that we can open a transaction. I currently set the stop-loss much higher than usual due to the weekend's unexpected volatility and the last unsuccessful trades, but I balanced it with a larger position, so my trading plan still works
In the next week, where I expect extremely high volatility due to events connected with prepared statements, due to assumptions of a dovish policy from the FED, the market which has been holding an up-trend for 2 weeks will complete the valuation of this information, which was announced in the second half of November.
So why SHORT?? It is more than likely that December will be green on the markets and the only possible support for bullish swing positions is around the level of $16975, which if bitcoin does not hold on the 4H chart we will go much lower, of course we want to see a rebound and bullish positions up to at least $18500
Comment:
Bitcoin reacted beautifully to the marked levels
Trade closed: target reached:
As you can see for yourself a very accurate analysis which earned me well