1D Bitcoin daily analysis looking at Skyrex Trading's idea
Quick analysis based off the back of predicted movement based on EWT and Trading chaos that @SkyrexTrading shared today.
I have marked range levels as shown in the FATS (Fib. Auto Trend Scouter ) on the chart as well as trend lines it picked up on.
Top white horizontal @ 21.3K lines up close to wave 5 in Skyrex idea
Yellow horizontal line @ 21.1K lines up to wave 3
Blue horizontal @ 20.1K to wave 4 target
Using trend surfer to show fib. levels which were mentioned in the original idea as targets.
The Institutional FVG & Liquidity Range Candle (Expo) indicator shows an Institutional Fair Value Gap @ 18K to 19.85K here (transparent blue box marked FVG on the chart), with Fair Value Gap, Liquidity voids are sudden price changes without enough liquidity at a stable price, and the price jumps from the originating price level to the final price level, creating an imbalance in price, The price tends to fill or retest the FVG area.
This FVG is shown as a red zone with a magnet on Skyrex's idea.
The Institutional FVG & Liquidity Range Candle (Expo) indicator also shows several previous liquidity range candles in this area as well shown by the aqua colored range boxes on the chart here.
- "Liquidity Range Candle is another trading concept used by large market players where they manipulate the price to stay inside a specific market area, creating a tight consolidation zone. Once the price breaks the liquidity range, liquidity flows into the market. It's an easy way to grab liquidity from retail traders. Stop losses are triggers, breakout traders jump into the market, and institutional traders absorb the liquidity.
If you don't see the liquidity, you become the liquidity!"
Finally we have confirmation of directional trend on Slow Stochastic + MACD indicator shown below the chart here
Hopefully you find this analysis interesting and helpful, as ever do your own research, don't take this as sound financial advice etc, I'm not a professional expert trader.
I have marked range levels as shown in the FATS (Fib. Auto Trend Scouter ) on the chart as well as trend lines it picked up on.
Top white horizontal @ 21.3K lines up close to wave 5 in Skyrex idea
Yellow horizontal line @ 21.1K lines up to wave 3
Blue horizontal @ 20.1K to wave 4 target
Using trend surfer to show fib. levels which were mentioned in the original idea as targets.
The Institutional FVG & Liquidity Range Candle (Expo) indicator shows an Institutional Fair Value Gap @ 18K to 19.85K here (transparent blue box marked FVG on the chart), with Fair Value Gap, Liquidity voids are sudden price changes without enough liquidity at a stable price, and the price jumps from the originating price level to the final price level, creating an imbalance in price, The price tends to fill or retest the FVG area.
This FVG is shown as a red zone with a magnet on Skyrex's idea.
The Institutional FVG & Liquidity Range Candle (Expo) indicator also shows several previous liquidity range candles in this area as well shown by the aqua colored range boxes on the chart here.
- "Liquidity Range Candle is another trading concept used by large market players where they manipulate the price to stay inside a specific market area, creating a tight consolidation zone. Once the price breaks the liquidity range, liquidity flows into the market. It's an easy way to grab liquidity from retail traders. Stop losses are triggers, breakout traders jump into the market, and institutional traders absorb the liquidity.
If you don't see the liquidity, you become the liquidity!"
Finally we have confirmation of directional trend on Slow Stochastic + MACD indicator shown below the chart here
Hopefully you find this analysis interesting and helpful, as ever do your own research, don't take this as sound financial advice etc, I'm not a professional expert trader.
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