BTC Greater Value Area UPDATE
Updated
After targets 1 and 2 / VAH where met, we need to look to the upside for more potential targets. IF PA is able to make a move to the range shown above, I find it hard to believe it will make it past the VAH of said range, a good spot to look for short ops around 50k, first we must see the VAH flipped for support....conversely, to the downside, we have the CME gap which has yet to be filled, which could act as a magnet for price, as we know, BTC fills gaps! A break of the PoC would confirm a back test of the VAL/6Levels would be underway, a good spot to look for long ops. Further below, we see the wheelchair...if PA fails at the VAL/6Levels and falls below 33.1k, we could expect to look to 29k-30k launchpad to really get the bull market underway, of all the options listed that, personally would be the preferred one for me, but we must be ready for all possibilities at all times.
Trade responsibly, exercise daily and drink more water, best of luck!
Trade responsibly, exercise daily and drink more water, best of luck!
Note
On lower TF, PA seems to be trying to find support at the VAH. If this happens the next level of resistance I'd look to is "wick city"/yearly. Wick city is a major S/R level where PA has created a lot of SFP wick in either direction. If these levels are claimed for support, acceptance into the Value Area above being the next move with 50k potentially in the crosshairs.Note
If PA can flip the VAH I believe well see a move to the Monthly level above, if not CME would be the first level of possible support, but I imagine if PA travels that far, it may want to hit the 6Levels/Weekly level below for a solid retracement before new longs.Note
CME Hit!Note
With the CME hit I'm now anticipating that move to the 6Levels/VAL/Weekly levels down below for a long position depending on the when the time comes.
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