BTC/USD - The bull squeeze is getting stronger and closer.
Updated
Now the price is in the big almost 2-month rang of $8100-10100. Another mini-range of $9100-9970 was formed inside the rang. Inside this mini-range there is no need to trade, as your stop will be washed off with a "saw". You can see how the price is squeezed in a certain triangle, which means that the stops will gather in both directions. Down under the wicks of the foot of the FOMO longs and shorts punchers, above the local haii of the foot of shorts. Both will be kicked out of position, but who's first, it's hard to say yet.
If the exit from the mini-range ($9100-9970) breaks the yellow zone down, it's better not to take longs above support $80800-8240. If the price leaves the rang up and breaks through the local resistance, the shorts below $10800-11100 will also be very risky, as there will be a liquidation of all the shorts that came in the range of $8000-10000. The optimal zones for trading so far are the main support and long range support. Local resistance has been tested too many times to be shorts again or to hide a stop-loss behind it, but if it hasn't been broken through yet, this zone is still a resistance. There is no need to long into the resistance, but you can go from this zone to long when you break through a Stop Loss order for $10200 (Stop Loss $10040, Target 11100-11500) All orders are better to place in advance, so at $11100 you can "poke" and go straight down (aptrast).
The situation is not simple, but judging by the structure and "spring" will soon be out of the entire rang. Futurs schedule has already been marinated, the rest of the stock exchanges may hold another day in the rang. If you do not want to take risks, you can wait without a deal. For the trader NO ACTION it is also an action!!!
Bull squeeze is getting stronger and closer. If there is no force majeure and Bitmex or others will not let you down once again, you should break through and add another 8-9% to the price in the near future.
Push ❤️ if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
If the exit from the mini-range ($9100-9970) breaks the yellow zone down, it's better not to take longs above support $80800-8240. If the price leaves the rang up and breaks through the local resistance, the shorts below $10800-11100 will also be very risky, as there will be a liquidation of all the shorts that came in the range of $8000-10000. The optimal zones for trading so far are the main support and long range support. Local resistance has been tested too many times to be shorts again or to hide a stop-loss behind it, but if it hasn't been broken through yet, this zone is still a resistance. There is no need to long into the resistance, but you can go from this zone to long when you break through a Stop Loss order for $10200 (Stop Loss $10040, Target 11100-11500) All orders are better to place in advance, so at $11100 you can "poke" and go straight down (aptrast).
The situation is not simple, but judging by the structure and "spring" will soon be out of the entire rang. Futurs schedule has already been marinated, the rest of the stock exchanges may hold another day in the rang. If you do not want to take risks, you can wait without a deal. For the trader NO ACTION it is also an action!!!
Bull squeeze is getting stronger and closer. If there is no force majeure and Bitmex or others will not let you down once again, you should break through and add another 8-9% to the price in the near future.
Push ❤️ if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Thanks for your support!
Trade active
the stop loss has been destroyed.tradingview.com/chart/XBTUSD/akZrUdJF-BTC-USD-Stop-loss-was-knocked-out/.
Trade closed: stop reached
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