BTC analysis (1H)
Refer to my previous post for the context. (Click the chart image above)
We still have time left until the US election,
I expect major decisions to be made on that day: either BTC rises or falls (for good).
For now, the price is just swinging between 68-69k zone and 65-66k zone.
I'll keep the post updated about how we might be able to approach in such consolidation.
Comment
Consolidation continues with no major volatility.
66.7k and 66.9k lines are still valid, working as a support.
In most scenarios, this shouldn't have happened: upon reaching the 69k zone, BTC should've completely reversed the trend and fall back to 64 - 65k.
However, BTC is still showing signs of consolidation, meaning it's getting ready for the big jump.
Why? Because America is waiting for the new president.
Comment
BTC has met the resistance level of the trend, reversing slightly.
Comment
The resistance lines and AoC(Area of Confluence) are being respected,
but are not enough to stop the bull run.
BTC now over 70k!
Comment
If the price is to reach the 72-73k zone,
we might see some resistance.
Comment
If Liquidity grab happens here, this will be our temporary short entry.
Comment
The price did not retract back to the entry price for the short,
it is now in the 72-73k resistance zone instead.
Price is currently being retested in the fair value gap (71.9k - 72.3k) after almost claiming all time high.
We still have a week before the US election.
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