BTC is currently trading in a uptrend on the 4H timeframe, but testing the lower range of the trend. Closing price below 4H-P-L would mean a high probablity movement back to the range bottom of 58.4K.
I have included a trade idea based on the current market situation, but this is a high risk trade since BTCUSD is still in the consolidation range of higher timeframes between 58.4 - 63.1K.
I have included a trade idea based on the current market situation, but this is a high risk trade since BTCUSD is still in the consolidation range of higher timeframes between 58.4 - 63.1K.
Comment:
Price hit TP1 and is currently retesting 4H-P-L low point, brake below on lower timeframes is an early warning sign of a potential brakedown.
Comment:
Structutre brakedown, entering short market order and limit at 61150. Target price 58900, stop loss 62000.