Recently, BTCUSD touched a significant low of 91,031, establishing a critical target liquidity zone. I anticipate that the price will first climb to the 102,599.85 mark to activate the buy stops positioned in that area, providing an opportunity to seize profits before we potentially explore lower price levels for shorting opportunities.
In terms of key price levels, the most crucial points to note are:
- The buy stops are clustered at 109,358.00, representing a likely point of upward movement should the market rally.
- Conversely, sell stops are situated at 89,028.64, indicating where potential selling pressure may emerge.
Currently, the resistance level stands at 106,530.26, which acts as a barrier against upward movement. At this moment, there is a noted absence of resistance in the prevailing order flow, with sell stops predominantly positioned just above the recent low of 91,031.27, ready to trigger if the price declines further.
In terms of key price levels, the most crucial points to note are:
- The buy stops are clustered at 109,358.00, representing a likely point of upward movement should the market rally.
- Conversely, sell stops are situated at 89,028.64, indicating where potential selling pressure may emerge.
Currently, the resistance level stands at 106,530.26, which acts as a barrier against upward movement. At this moment, there is a noted absence of resistance in the prevailing order flow, with sell stops predominantly positioned just above the recent low of 91,031.27, ready to trigger if the price declines further.
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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.
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.