Not much has happened since my last update.
We still haven't been able to tag the 86-88k supply zone. After having some constructive price action from the lows, price is grinding down below resistance.
We had a few liquidity games, one of the weekend with an attempt to liquidate a short position during low weekend liquidity. Another small short squeeze on the news that MSTR purchased more bitcoin.
Both retraced quickly and if we ignore these news/event wicks, we see clear lower highs on lower timeframe.
That doesn't mean my bias is down, it just gives us a very clear low timeframe plan: short the lower highs until structure changes (look for something more constructive than a wick).
Not much to say other than that, except that Monday range has been very good to play over the last few weeks, so remember to map that out tomorrow.
We still haven't been able to tag the 86-88k supply zone. After having some constructive price action from the lows, price is grinding down below resistance.
We had a few liquidity games, one of the weekend with an attempt to liquidate a short position during low weekend liquidity. Another small short squeeze on the news that MSTR purchased more bitcoin.
Both retraced quickly and if we ignore these news/event wicks, we see clear lower highs on lower timeframe.
That doesn't mean my bias is down, it just gives us a very clear low timeframe plan: short the lower highs until structure changes (look for something more constructive than a wick).
Not much to say other than that, except that Monday range has been very good to play over the last few weeks, so remember to map that out tomorrow.
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Tealstreet.io Trade Faster & Trade Easier
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
Content in partnership with:
twitter.com/mooncakexbt
twitter.com/huskyXBT
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.