Hi mates!
Today I'm going to briefly review what happened last 30 days. Let's go!
1D TF
Looking at the daily chart, we can see a perfect range between 28000 and 32000.
What is interesting is that from the halfway through this range the price started squeezing upwards, meaning buyers' accumulation activity.
So if we hold the 29000 level we would see a massive breakout of the 32000 next week. Otherwise, the range will continue.
4H TF
In this timeframe we see kind of triangle that doesn't mean something particular. Last time the same pattern was broken upwards. But the next time it could be completely opposite. But considering the PoC of this 30 days range, we can see accumulation shifted to the 29500-30500 zone which is higher than at the beginning of the range.
Conclusion
I would bet the next impulse in the upwards direction with possible fakeout till 29000, thus I will take Long trade from 29500-3000 zone with SL 28500.
Today I'm going to briefly review what happened last 30 days. Let's go!
1D TF
Looking at the daily chart, we can see a perfect range between 28000 and 32000.
What is interesting is that from the halfway through this range the price started squeezing upwards, meaning buyers' accumulation activity.
So if we hold the 29000 level we would see a massive breakout of the 32000 next week. Otherwise, the range will continue.
4H TF
In this timeframe we see kind of triangle that doesn't mean something particular. Last time the same pattern was broken upwards. But the next time it could be completely opposite. But considering the PoC of this 30 days range, we can see accumulation shifted to the 29500-30500 zone which is higher than at the beginning of the range.
Conclusion
I would bet the next impulse in the upwards direction with possible fakeout till 29000, thus I will take Long trade from 29500-3000 zone with SL 28500.