BTCUSD: High Probability Setup for a New ATH - 74% Chance!
Updated
I've identified a possible trading opportunity in the BTCUSD market that I'd like to share with you. Based on historical data, there's a high chance (76%) that the price could reach a new all-time high again on at least daily timeframe.
Currently, I'm observing the recent downward movement on the daily chart before the bullish breakout. I'm particularly interested in pinpointing the candle that caused this downward move, as it may help us time our entry.
My attention is on a demand zone labeled X1/1D, which appears to have influenced the breakout. If the price retraces back into this zone and begins to show signs of upward movement on shorter timeframes like the hourly chart, it could present a potential opportunity to consider a long position.
Let's dive into the comprehensive top-down analysis together
BTCUSD
12M:
not enough data
6M:
not enough data
3M:
1M:
2W:
1W:
3D:
1D:
I'll continue to monitor the price action closely and provide updates accordingly.
Your questions and feedbacks are always welcome, so feel free to drop them below.
Currently, I'm observing the recent downward movement on the daily chart before the bullish breakout. I'm particularly interested in pinpointing the candle that caused this downward move, as it may help us time our entry.
My attention is on a demand zone labeled X1/1D, which appears to have influenced the breakout. If the price retraces back into this zone and begins to show signs of upward movement on shorter timeframes like the hourly chart, it could present a potential opportunity to consider a long position.
Let's dive into the comprehensive top-down analysis together
BTCUSD 12M:
6M:
3M:
1M:
2W:
1W:
3D:
1D:
I'll continue to monitor the price action closely and provide updates accordingly.
Your questions and feedbacks are always welcome, so feel free to drop them below.
Note
Note
Short-term, price perfectly delivered to new hourly highs as per the bias shared yesterday in the comments.
Note
Quick update (27/03/2024):
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