INTRO
BTC has broken out of the descending Trendline just as anticipated but it's now trading at a premium, so let's breakdown the levels i'm watching and have a clear view on what to expect this week.
1. MARKET OVERVIEW
BTC has showed an impulsive move to the upside these previous weeks. While some might be thinking of jumping in on this buys that has been going on i think it's a bad idea to look for the buys to continue this new week because BTC is now trading at a premium level where buys are low probability(it might be a good idea to buy earlier in the week becaus price hasn't approached a key supply zone i'm watching out for) and i'm also anticipating for price to retest the Trendline before the major Buys.
2. KEY LEVELS I'M WATCHING
* Supply Zone: 96,400 - 98,700
(My major trade idea for this week is a sell on BTC so i'm only focused on the key supply zone)
3.TRADE BIAS & SCENARIOS
I'm Bearish on BTC this week but i'll be looking out for a buy earlier in the week from my H1 Demand Zone (91,600 - 92,400) into my supply zone(96,400 - 98,700). But if price trades to my Supply zone without getting to my H1 Entry point i'll cancel my buy order and focus only on the sell for the week.
4 FINAL NOTES
Stay patient and let price come to you and manage your risk when it does. Feel free to share your thoughts or setups in the comment.
BTC has broken out of the descending Trendline just as anticipated but it's now trading at a premium, so let's breakdown the levels i'm watching and have a clear view on what to expect this week.
1. MARKET OVERVIEW
BTC has showed an impulsive move to the upside these previous weeks. While some might be thinking of jumping in on this buys that has been going on i think it's a bad idea to look for the buys to continue this new week because BTC is now trading at a premium level where buys are low probability(it might be a good idea to buy earlier in the week becaus price hasn't approached a key supply zone i'm watching out for) and i'm also anticipating for price to retest the Trendline before the major Buys.
2. KEY LEVELS I'M WATCHING
* Supply Zone: 96,400 - 98,700
(My major trade idea for this week is a sell on BTC so i'm only focused on the key supply zone)
3.TRADE BIAS & SCENARIOS
I'm Bearish on BTC this week but i'll be looking out for a buy earlier in the week from my H1 Demand Zone (91,600 - 92,400) into my supply zone(96,400 - 98,700). But if price trades to my Supply zone without getting to my H1 Entry point i'll cancel my buy order and focus only on the sell for the week.
4 FINAL NOTES
Stay patient and let price come to you and manage your risk when it does. Feel free to share your thoughts or setups in the comment.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.