Update plan for BTC
Updated
Have a good trading day everyone
If my idea is useful, give me a like and follow to follow the article to see the safest entry in the plan I have posted.
Any questions or request analysis of other trading pairs, please leave a comment ^^
Yesterday along with the sharp increase in US bond yields we witnessed a sharp drop in BTC as I warned against FOMO in the previous plan. Price retraced to the value zone but crashed straight without price reaction forming a structure which helped us avoid a sudden reversal phase and now the price structure has changed again so we have a new plan:
- About the basic information: the market "fermented" back to the issue of raising interest rates to 75 points in June although it was eliminated in the previous meeting. Followed by a spike in US bond yields attracted a shift in cash flow. Tonight's NF is expected to bring quite a bit of volatility to the market
- Regarding technical analysis: looking at the chart, we can see that the price structure broke strongly through the old support area, confirming the main trend of the market. We are still in a bear market with lower highs and lower lows so trying to bottom out at this point would be dangerous. It is always safer to sell in favor of the trend when there is a correction.
If my idea is useful, give me a like and follow to follow the article to see the safest entry in the plan I have posted.
Any questions or request analysis of other trading pairs, please leave a comment ^^
Yesterday along with the sharp increase in US bond yields we witnessed a sharp drop in BTC as I warned against FOMO in the previous plan. Price retraced to the value zone but crashed straight without price reaction forming a structure which helped us avoid a sudden reversal phase and now the price structure has changed again so we have a new plan:
- About the basic information: the market "fermented" back to the issue of raising interest rates to 75 points in June although it was eliminated in the previous meeting. Followed by a spike in US bond yields attracted a shift in cash flow. Tonight's NF is expected to bring quite a bit of volatility to the market
- Regarding technical analysis: looking at the chart, we can see that the price structure broke strongly through the old support area, confirming the main trend of the market. We are still in a bear market with lower highs and lower lows so trying to bottom out at this point would be dangerous. It is always safer to sell in favor of the trend when there is a correction.
Trade active
Trade closed: target reached
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