📊#BTC Horizontal Consolidation Expected📊
🧠From a structural perspective, we still failed to successfully break through the resistance of 84,500, but there was no rapid callback. Instead, we were doing horizontal consolidation to digest the selling pressure near the blue pressure zone, so we can maintain the sideways fluctuation to execute the transaction. This is why I chose to close the long order near 84,000.
➡️Since the horizontal consolidation view is maintained, what we need to find is the gradually rising oblique support. The support points that can be paid attention to are 81,400 and 82,400.
➡️Since it is difficult to fall, the profit space of short selling will be squeezed, which will make us feel very strenuous. So if we want to short sell, we need to find high resistance to try. Then the resistance worth our attention is 86,000, and the resistance zone in extreme cases is 88,000-90,000
Let's take a look👀
🤜If you like my analysis, please like💖 and share💬
BTCUSDT.P
🧠From a structural perspective, we still failed to successfully break through the resistance of 84,500, but there was no rapid callback. Instead, we were doing horizontal consolidation to digest the selling pressure near the blue pressure zone, so we can maintain the sideways fluctuation to execute the transaction. This is why I chose to close the long order near 84,000.
➡️Since the horizontal consolidation view is maintained, what we need to find is the gradually rising oblique support. The support points that can be paid attention to are 81,400 and 82,400.
➡️Since it is difficult to fall, the profit space of short selling will be squeezed, which will make us feel very strenuous. So if we want to short sell, we need to find high resistance to try. Then the resistance worth our attention is 86,000, and the resistance zone in extreme cases is 88,000-90,000
Let's take a look👀
🤜If you like my analysis, please like💖 and share💬
BTCUSDT.P Trade closed: target reached
#BTC
The reaction to the support zone was good, but the price was squeezed. The different trading depths of different exchanges caused my trading target to not be touched. The long order was set risk-free and was swept away, and I only made a small profit. 🤷♂️
Currently, a short structure has been built near the resistance zone, so the next support zone worth our attention is 79000-80400, if it falls further according to the current structure.
From the perspective of the chart, the price is gradually being compressed to form an ascending triangle. The appearance of this model means that there is still a last section of rise.
So there is a contradiction here, patiently wait for the short-selling opportunity of high pressure or the bullish opportunity of low support to appear.
Note
#BTC
The rebound occurred ahead of schedule and reached TP1 ahead of schedule. Cancel this trading strategy and look for new trading opportunities tomorrow.
⚡️Timely updates and VIP consultation on Telegram: 👇
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
Related publications
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.
⚡️Timely updates and VIP consultation on Telegram: 👇
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
Related publications
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.