📉📈 BTC Trading Idea: Assessing Recent Market Dynamics
Yesterday witnessed a triangle fakeout,leading to a significant drop and triggering numerous stop losses,with the price plummeting as low as $60,660.Despite this,the bullish sentiment remains intact in the macro perspective.
Currently trading around $64,000,with the range low at $58,700,we've seen attempts to reclaim the Value Area Low (VAL) from the Fixed Range Volume Profile (FRVP) I utilize on TradingView.
Recent fundamental events,such as the Iran attack on Israel,underscore the importance of considering external factors in our analysis.While these events can influence the charts,a cool-off in price action is evident.
In the macro analysis,a bullish divergence is observed in the Cumulative Volume Delta (CVD), suggesting potential upside momentum.However,confirmation of the reclaim at the VAL of FRVP at $64,050 is essential to consider further bullish scenarios.
On the other hand,losing the range low $58.700 and flipping it as resistance could signal further downside,with targets as low as $50,000,especially in the event of a black swan occurrence.
I'm very proud of those who took the short position from my last idea at $71,300!
Actionable trades include shorts from $67,136 in smaller time frames (STF),focusing on the previous day's open and the FRVP Point of Control (POC)see red Line if weakness persists.Long positions at $61,200 as the previous day's Value Area Low (pdVAL) and $62,000 as the previous day's Point of Control (pdPOC) with caution and confirmation first from a strong bounce,present opportunities.HTF longs from range low $58,700 if fake out happens.
*STF trades should be monitored closely,taking profits within the first reasonable sign of weakness!
*Exercise patience and wait for levels to be tested,reacting accordingly.Despite prevailing bearish sentiments,maintaining the range low as support favors long trades.Be mindful of potential short squeezes amidst widespread bearish sentiment.
Stay tuned for more updates and actionable trading ideas!
Currently trading around $64,000,with the range low at $58,700,we've seen attempts to reclaim the Value Area Low (VAL) from the Fixed Range Volume Profile (FRVP) I utilize on TradingView.
Recent fundamental events,such as the Iran attack on Israel,underscore the importance of considering external factors in our analysis.While these events can influence the charts,a cool-off in price action is evident.
In the macro analysis,a bullish divergence is observed in the Cumulative Volume Delta (CVD), suggesting potential upside momentum.However,confirmation of the reclaim at the VAL of FRVP at $64,050 is essential to consider further bullish scenarios.
On the other hand,losing the range low $58.700 and flipping it as resistance could signal further downside,with targets as low as $50,000,especially in the event of a black swan occurrence.
I'm very proud of those who took the short position from my last idea at $71,300!
Actionable trades include shorts from $67,136 in smaller time frames (STF),focusing on the previous day's open and the FRVP Point of Control (POC)see red Line if weakness persists.Long positions at $61,200 as the previous day's Value Area Low (pdVAL) and $62,000 as the previous day's Point of Control (pdPOC) with caution and confirmation first from a strong bounce,present opportunities.HTF longs from range low $58,700 if fake out happens.
*STF trades should be monitored closely,taking profits within the first reasonable sign of weakness!
*Exercise patience and wait for levels to be tested,reacting accordingly.Despite prevailing bearish sentiments,maintaining the range low as support favors long trades.Be mindful of potential short squeezes amidst widespread bearish sentiment.
Stay tuned for more updates and actionable trading ideas!