BTCUSD potential set up
Looking for a break of current structure
AB to CD wave completed
4hr pin bar candle printed at current level of support
1hr also printing 2 pin bar candles, one also being bullish engulfing showing buying pressure is currently strengthening in this region
I will be looking for confirmations at my circled area
Would like to see a clear 1hr break and close above 32,750 resistance (grey horizontal line)
Also a retest at point of interest red line on volume profile to potentially enter in that area
Also a 1hr and 4hr TL ( trend line ) cross on the RSI
As current 1hr candle closes as a bullish engulfing, that will be a strong sign for a potential move up to 33,200 region for first target or higher
First target is will make for a 2:1 RR, as BTC will be retesting the symmetrical triangle that price broke out of.
As there is traffic in this region, I will be closing partial position to solidify profits, adjusting stops above break even incase price rejects this region and pulls back further
If price breaks back into symmetrical triangle, I will re-add to my position and adjust stops to break even
Will be looking for ALT coin entries and confluence that aligns with BTC's bullish move
AB to CD wave completed
4hr pin bar candle printed at current level of support
1hr also printing 2 pin bar candles, one also being bullish engulfing showing buying pressure is currently strengthening in this region
I will be looking for confirmations at my circled area
Would like to see a clear 1hr break and close above 32,750 resistance (grey horizontal line)
Also a retest at point of interest red line on volume profile to potentially enter in that area
Also a 1hr and 4hr TL ( trend line ) cross on the RSI
As current 1hr candle closes as a bullish engulfing, that will be a strong sign for a potential move up to 33,200 region for first target or higher
First target is will make for a 2:1 RR, as BTC will be retesting the symmetrical triangle that price broke out of.
As there is traffic in this region, I will be closing partial position to solidify profits, adjusting stops above break even incase price rejects this region and pulls back further
If price breaks back into symmetrical triangle, I will re-add to my position and adjust stops to break even
Will be looking for ALT coin entries and confluence that aligns with BTC's bullish move
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