Looks like a classic Wyckoff Accumulation in play to me. After the last SPRING I am getting a little bit more bullish to look for a swing trade to hold into midterm targets If we get a decent retracement into around $ 1285.
My overal thoughts are that we are headed torwards 12K and am currently holding short. That being said there is an H1 POI with FVG that I am interested in especially to go long. I speculate that the H4 demand zones around the .618 fibonacci level for the Bulls and POC on the fixed range will be used to as inducement for the H1 POI with FVG/imbalance and price...
1. Gold in top trendline / channel 2. On 4H resistance level 3. It's still hanging in there but my gues is it will drop from here 4. Stoploss could be a bit more loose for conservative SL 5. Go short and manage risk
1. In daily demand with M15 choch and bullish divergence 2. On daily TF still bullish and between 0.618 and 0.764 fib level 3. In need of correction / retest 4. Wait for double bottem on LTF for entry or take entry of the M15 OB with or without M1 choch confirmation 5. Agressive SL 135.537 / conservative stop 135.000
ETH long idea - take most of the posistion at swing high point and take partials allong other TP's (green lines)
IMO this looks like a decent Wyckoff accumulation schematic. If this plays out it would indicate a higher low for BTC. If this is confirmed on the lower timeframe I will look for a Long and my personal target would be the .272 fibonacci level, wich will be around 50K. Offcourse will take some partials allong the way. No financial advise, DYOR and always trade with...