BTC: wait for the TRAP to open a LONG!
Updated
📈 I marked the scenarios of price movement on the chart, but let's analyze them in detail. Bitcoin(BTC) is now consolidating between two value zones:
1.$38,200-39,300
2. $41,400-42,300
🏄There is a global trend line lower, which can be a support for price together with the first value zone. Why should volumes rise after the trend line will be tested? It's simple, so the big player🐳 will show his willingness to buy, and the big player🐳 knows more than we do. If the volumes don't rise, then the price with high possibility(60-75%) go lower.
🏁The main question is, who will be the fuel for the move down? The fuel🔥 will be the long traders who took their positions higher and in this consolidation. Likewise, the short traders can be fuel🔥 for the move up, after a false breakdown or similar TRAP. The stop orders to sell will be triggered, and the big player will be able to take that liquidity and the price will move higher.
🎯It is important to note that the more the level tests, the weaker support or resistance becomes and at some point this level may not hold the price. For Bitcoin, it is better to make some traps and quickly renew its highs. I hope it happens soon!
Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
1.$38,200-39,300
2. $41,400-42,300
🏄There is a global trend line lower, which can be a support for price together with the first value zone. Why should volumes rise after the trend line will be tested? It's simple, so the big player🐳 will show his willingness to buy, and the big player🐳 knows more than we do. If the volumes don't rise, then the price with high possibility(60-75%) go lower.
🏁The main question is, who will be the fuel for the move down? The fuel🔥 will be the long traders who took their positions higher and in this consolidation. Likewise, the short traders can be fuel🔥 for the move up, after a false breakdown or similar TRAP. The stop orders to sell will be triggered, and the big player will be able to take that liquidity and the price will move higher.
🎯It is important to note that the more the level tests, the weaker support or resistance becomes and at some point this level may not hold the price. For Bitcoin, it is better to make some traps and quickly renew its highs. I hope it happens soon!
Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Note
Note
NO VOLUME=NO BUYER
The value area held the price, but the buyer still didn't show up.It is necessary to wait for the moment when the strategy will allow you to open a trade. At this point, the manipulation(trap) hasn`t happened yet.
Note
Trade active
Note
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