the observation of 30 BTC (Bitcoin) exhibiting bullish price action on a 1-hour time frame is indicative of a positive trend. The creation of a higher high suggests a potential upward momentum in the market. However, a prudent approach to trading involves considering additional factors for confirmation. To refine the analysis, it is recommended to zoom in on a shorter time frame, such as the 30-minute chart, in order to wait for a liquidity grab. This involves observing instances where the price momentarily drops to a certain level, likely triggering stop-loss orders or liquidations, before swiftly recovering. The confirmation of a liquidity grab on the 30-minute time frame can provide further assurance of the bullish sentiment, potentially strengthening the case for a more confident market outlook and informing strategic trading decisions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.