Understanding BTC Trade Setups: My Thoughts and Strategies.
Today, I would like to share my brief thoughts on Bitcoin and discuss the technical details present in the current market. Let's get started.
Technical Insights:
We have a support zone at 28.8k$ and a resistance zone at 30k$.
Let's consider a couple of setups for different scenarios:
Scenario One:
Liquidity zone from the local minimum at 28800, rtrade with aiming for a breakout to 30k and above.
Regarding bearish scenarios,
I see two possibilities to enter a trade:
Breaking the 28500 level and retesting with a spike up to $29500.
Fundamentally:
From a technical standpoint, there are several significant events affecting the market:
SEC delays set deadlines for Bitcoin ETF approval to early 2024. ETF decision until 2024.
PayPal to halt crypto purchases in the UK until 2024.
What are my thoughts on these news pieces?
Overall, they are bullish, but a delayed decision gives an opportunity for major capital to play with the market. It's crucial to check the current deals of the big players.. We can look for profits by employing the old yet effective adage: "sell on news, buy on rumors."
What do you think about the news and technical aspects of
BTC
? Are you buying or selling it at the moment?
Feel free to write your comments. I'd be glad to discuss your charts with you! I'm also appreciative of any subscriptions and likes.
Technical Insights:
We have a support zone at 28.8k$ and a resistance zone at 30k$.
Let's consider a couple of setups for different scenarios:
Scenario One:
Liquidity zone from the local minimum at 28800, rtrade with aiming for a breakout to 30k and above.
Regarding bearish scenarios,
I see two possibilities to enter a trade:
Breaking the 28500 level and retesting with a spike up to $29500.
Fundamentally:
From a technical standpoint, there are several significant events affecting the market:
SEC delays set deadlines for Bitcoin ETF approval to early 2024. ETF decision until 2024.
PayPal to halt crypto purchases in the UK until 2024.
What are my thoughts on these news pieces?
Overall, they are bullish, but a delayed decision gives an opportunity for major capital to play with the market. It's crucial to check the current deals of the big players.. We can look for profits by employing the old yet effective adage: "sell on news, buy on rumors."
What do you think about the news and technical aspects of
BTC
? Are you buying or selling it at the moment? Feel free to write your comments. I'd be glad to discuss your charts with you! I'm also appreciative of any subscriptions and likes.
The trend break is a bearish sign, if there is no pullback today, the market will fly lower.
The current level is very important for BTC and ETH.
Such beautiful levels are usually demolished by very large moves.