The analysis for today focuses on short-term trading, particularly using the H1 and H4 timeframes to gauge BTC's price movements. Here's a breakdown of the situation:
BTC's Movement: BTC has moved from the 83k level to 88k, following the recent price mappings. The H1 chart shows that BTC reached a peak of 87.9k.
In summary, the safest option seems to be to wait for confirmation of a long entry at 85k or take advantage of altcoin opportunities. Best of luck with your trades!
BTC's Movement: BTC has moved from the 83k level to 88k, following the recent price mappings. The H1 chart shows that BTC reached a peak of 87.9k.
- Short-term Expectation: BTC is expected to pull back towards the 85k region before potentially rising again.
- Short Scalping: With a price range of around 2k (from 85k to 87k), entry points need to be precise for a successful short scalping strategy, as exiting with profits could be difficult if not managed well.
- Long Opportunity: The preference is to wait for a potential long position around the 85k region. This is crucial since BTC is at an important price zone. However, if it doesn’t push up to 92k, the long opportunity might be limited.
- Strategy: It's better to wait for confirmation before entering any long positions. Alternatively, you could consider taking long positions on altcoins while BTC experiences a pullback.
In summary, the safest option seems to be to wait for confirmation of a long entry at 85k or take advantage of altcoin opportunities. Best of luck with your trades!
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.
The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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.