Hello Traders! Hope this week was a profitable one. US30 had a rather bearish week - we can see that after last weeks low was broken. Market gave us clear direction for sellside to be taken out. Yellow lines are showing us previous areas of where sellside liquidity could be. I expect the bearish momentum to continue however we must also anticipate...
My game plan going into next week on Bitcoin ($BTC). Notes on chart - leaning toward at least a sweep of current range low / liquidity to take out a bunch of stops at 22.4k. Lose current range, prior consolidation area is up next at 20k. From there will continue to evaluate if we come back down to macro lows, but expecting a bounce from either of these 2...
Swept two previous highs now, into local supply. If looking to short I'd take it on a lower timeframe break of MS and bearish retest targeting the grey box. Ultimately I'm looking for longs and would like to add more in the grey box if we get it. Cheers
Crude oil has been unable to breach the supply region established in March 2022 in the $120+ range. It's also having a hard time establishing ground above the 2011-2014 supply zone - price action above seems distributive with selloffs underneath carrying significant weight. That said, given the macro climate it's unlikely crude breaks down from this range for...