I like the risk reward on this sell. We have a lot of liquidity and we also had a change of character on the 4 hr time frame. got a great entry on the one mine time frame with just 40 pts risk = 400 pip risk. with atleast getting 100 pts = 1000 pip gain.
I love supply and demand. Orderblocks have gave me some of the best setups I ever taken. find the demand and wait for retracement to those zones and then buy and vice versa
we see a fake out occured taking out early buyers. with that an inverted head and shoulder is also present. we can see price push up
might get bitcoin to rise up to fill in that imbalance that was left behind. just broke out of a nasty range.
I have a really simple way of attacking the markets using what I call the trap the trap. Would love to see others apply it and tell me how it works out for you.
Price on the higher time frame has reached an area of supply. it is still bullish but i can see price taking out the last high and then proceeding lower to fill out the liquidity void below. have to be a lil patience for this one. took a sell on thursday into friday. closed out and see how far will this current buy last. looking for this to keep selling next week...
looking at the cycle flow and the fact we had a new low taken out and an inverted head and shoulder i can see price retracing to that area of value where we also have imbalance needing to be filled
on the four we have a clear viewing of a market phase. consolidation- then expansion- than retracement - finally the reversal phase. this indicates that we might see bitcoin drop even lower i have bitcoin going for 15000, to 3,700 as the low then i believe we will see the rally up of all time to break a new high.
had a really large breakout, looking to ride this down during the retracement phase and gonna look to end the buy at the 70% level on the fibb
ON the daily time frame price has broken a daily support and had returned to the point of interest to create resistance which created sound structure which is why we see that bitcoin has continued to sell off
Currently on the weekly bitcoin just finished forming a upward flag and we have a weekly candle that is seeming to close below that flag
As of now we are at a really strong monthly support area that currently has as order block. will price continue to a previous all time low or will we start to see a change in trend finally. Are the bulls ready to enter the market?
Price is finally at a monthly supply area. We are currently at the area where price last had consolidation, also an area of value to notate. we can see a possible nice sell at this area before I can see that final push up to the main supply area. definitely looking to short this pair soon. any thoughts drop them in the comments