BTCUSD what comes next?
BYBIT:BTCUSD
As some of you know, I am still holding my ETH long from 186.9. Normally I don't hold margin positions for so long but due to being on vacation I decided to stick to HTF rather than checking my TW charts every 5 minutes.
At the time of writing BTC rests on a level 9240. What does it tell us:
BTC flipped major resistance 9094 to support during that huge impulsive move, however it is just resting on the edge, so I would like to see an attempt from bulls better sooner than later.
On TF240 there is a good SFP of the level 9066 that was marked as the deep provided by the breakdown from local triangle.
On Thursday 4-hourly provided a solid PIN-bar. Normally such PIN-bars can initiate a good 8% move, which is confluent with the first serious area of resistance 9900. So these are my odds, folks!
Unfortunate scenario for bullas assumes inability to hold above the 9100 mark, then I would expect sliding towards 8700.
Have a nice trade!
As some of you know, I am still holding my ETH long from 186.9. Normally I don't hold margin positions for so long but due to being on vacation I decided to stick to HTF rather than checking my TW charts every 5 minutes.
At the time of writing BTC rests on a level 9240. What does it tell us:
BTC flipped major resistance 9094 to support during that huge impulsive move, however it is just resting on the edge, so I would like to see an attempt from bulls better sooner than later.
On TF240 there is a good SFP of the level 9066 that was marked as the deep provided by the breakdown from local triangle.
On Thursday 4-hourly provided a solid PIN-bar. Normally such PIN-bars can initiate a good 8% move, which is confluent with the first serious area of resistance 9900. So these are my odds, folks!
Unfortunate scenario for bullas assumes inability to hold above the 9100 mark, then I would expect sliding towards 8700.
Have a nice trade!
Note
Despite not being a fan of trend lines I must admit they work when application is right. Well, probably this is fair to say for any instrument, whatever...According to what I see the price has broken out of the descending trend line (red) which may assume that BTC has entered a period of bull market. Let's see
Trade active
Despite consolidation has gone to far and I would have been better out of the market on my ETHYSD margin position on Bybit I see good buying reaction at support 9094.The first problem area is 9300. When BTC will reclaim that level then I think we have good chances of moving to 9900.
The main task now is to take off the current level
Note
BTCNote
I would bet for a 9300 liquidity probe before a final breakout attempt to me madeNote
How’s that looking for you? 
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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.