Small trade idea for the upcoming ETF release coming up tomorrow. BTC has been extremely volatile the last few days swinging from the highs to lows of the range.
That being said, we may see a second wave push to truly take out the previous high and create a swing failure trade, that can bring us back down to the range low where liquidity sits just below the range point of control and value area low.
Theres quite a bit of volume sitting in that range, and it may be possible to see a drop to pull the liquidity and rocket higher if we are in continuation of the up trend.
RSI currently oversold, we are hitting a key support level at $36,200, and we have a strong equity market which gives me a few reasons to believe bitcoin may have one last push.
That being said, we may see a second wave push to truly take out the previous high and create a swing failure trade, that can bring us back down to the range low where liquidity sits just below the range point of control and value area low.
Theres quite a bit of volume sitting in that range, and it may be possible to see a drop to pull the liquidity and rocket higher if we are in continuation of the up trend.
RSI currently oversold, we are hitting a key support level at $36,200, and we have a strong equity market which gives me a few reasons to believe bitcoin may have one last push.
Comment:
Looking for lower now that $36,200 is broken.
Trade active:
Seems like the market is pushing with strength attempting to reclaim this weekly zone.
If we can break above here and hold, this would give me confidence of the price likely to move back higher.
Wathcing $38k, if we push past then lets look higher at $40k - $50k
If we can break above here and hold, this would give me confidence of the price likely to move back higher.
Wathcing $38k, if we push past then lets look higher at $40k - $50k
Comment:
Long $36,900
Comment:
Big buyer demand, long wicks testing seller strength getting absorbed by buyers.
Trade closed: stop reached:
Was still open to a move down but I will be looking to open a new long once I have more data
Trade active:
My bias is still bullish. I feel like 38k will likely need to get taken out again. Re-entering long at $36,250 monthly area.
Comment:
Comment:
Big resistance at weekly level. 37,400. Was hoping to blast through here. Closing this long trade for now with good profits. Will wait for some more data to give me a clearer picture.
Trade closed manually
Comment:
Waiting to see the reaction at $38k. If we blast through it with strength we will likely go higher. If not, look for a reversal trade.
Comment:
finding some resistance, heres the bigger picture.
Comment:
this thing just keeps on swangin ... faked out upside
Comment:
I think we may potentially get a move up to $40k, So far, structure is making higher highs and higher lows. If we are to see a reversal confirmation, we would need to see a change in market structure. $37,700 seems to be our support level, if we break below but do not make a lower low, I would consider that a long entry.
Comment:
very much aware of both sides. be cautious.
Trade active:
Looking upwards to $39k.
Comment:
Nice pump past
41K
41K