BITCOIN Weekly Update 05/02/2024 - 4hr breakdown
Hello again,
so little quick cooperation on my statement: That by prolonged time of staying in highier price range without retracing down, odds are shifting to probability of going highier with time.
So for better visibility I colored chart..
Now its clearly to see, that we stuck in price accumulation before unloading move..
But, its aswell clearly to see, that with time we slowly progressing highier, to our Buyside liquidity area and is unknown if we are willing to break to Highier range... Thats why for me is important FED high, which serve at this point of time as REVERSE point for me... If I see price going above, and not willing to work to lower part of that range.. It should be "EARLY" signal, that there are increased odds of revisiting Highs from January and potentional more...
Thats WHY is this idea not labeled long or short...
But, if we not START to Reversing lower very soon (next 4-12 hours), odds to price pushing above 44k increasing a lot.
So AGAIN, if you decide to make move and enter the trade, using STOP LOSS is a MUST!
Hopefully, this helps some of you with your perception of market.
If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks
Joe
so little quick cooperation on my statement: That by prolonged time of staying in highier price range without retracing down, odds are shifting to probability of going highier with time.
So for better visibility I colored chart..
Now its clearly to see, that we stuck in price accumulation before unloading move..
But, its aswell clearly to see, that with time we slowly progressing highier, to our Buyside liquidity area and is unknown if we are willing to break to Highier range... Thats why for me is important FED high, which serve at this point of time as REVERSE point for me... If I see price going above, and not willing to work to lower part of that range.. It should be "EARLY" signal, that there are increased odds of revisiting Highs from January and potentional more...
Thats WHY is this idea not labeled long or short...
But, if we not START to Reversing lower very soon (next 4-12 hours), odds to price pushing above 44k increasing a lot.
So AGAIN, if you decide to make move and enter the trade, using STOP LOSS is a MUST!
Hopefully, this helps some of you with your perception of market.
If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks
Joe
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