Bitcoin may be heading lower....
Updated
BTCUSD has traded into supply, and rejecting.
May be heading lower for the weekend.
May be heading lower for the weekend.
Comment
Monitoring the PA. I was expecting a pullback.I usually have my SL above the halfway mark of the zone.... I feel I will need the extra pips. LOL Price is getting close...
No worries tho. Took a partial at 1:1 RR to cover the initial risk. So worry free.
Just looking for more bearish PA now.
If I get tapped out, I will reassess and consider re-entry.
Trade closed: stop reached
Breakeven.I will reassess, and consider re-entry.
Comment
Still within the 15m supply, which is still within the 4H supply. No break and close above that high of the 15m yet. If price respects that high, and gives a change of character.... I will consider re-entry, as we have not gone past the 50% of the 4H supply zone. A close past that, and I believe price will violate the 4H supply and continue up.
Monitoring....
Comment
Getting interesting, no?A pullback and a show of respect to that circled high... would be a nice nice price for sells. But as long as one gets in... and manage the trade well.... that's all that matters.
Comment
Would like to see a bearish BOS and then an RTI. The higher lows are indicating buyers are still fighting.
I like the sellside LQ as targets, but price has not given a quality break and close to the downside yet. Could still continue to climb.
I like this supply zone, and the midpoint of it is still being respected. So, we'll see if price creates a displacement to the down side.
*RTI = Return to impulse
BOS = Break of structure
Comment
This is at the midpoint of the 4H supply. 3 HHs into it, and I believe 3 is the charm. 15m Choch x2, so I feel good about the entry. There is LQ to sweep going into the 15m SZ, which is something I always look for.The target is the sell side LQ ($)
tradingview.com/chart/HbRDUA7t/
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