BTCUSD - Those Short This Week May Need To Revisit Their Bias...
Updated
As I usually say, clean tops are often made jagged in the near future and what we can see here with BTC price is relative equal highs forming around the $61,900 - $61,800 with high liquidity resistance run down into the bullish order block @ $56,056.80*.
I ask myself this question every time when analysing...
What liquidity pool would the algorithm print price to in order to cause max pain?
Throughout August, sellers has made the most bang for their buck so stop losses would have been trailed down to lock in profits.
I am very interested to see how price reacts to $61,800 weekly highs as my overall target is the higher timeframe reclaimed order block @ $63,866.
Objective 1: Clear $61,900 - $61,800 swing highs
Objective 2: Neutralise $62,416 long-term highs @ secure the daily inverted fair value gap as 'support'
Final Objective: Book new highs but expect resistance from higher timeframe arrays.
$63,866 end goal for next trading week.
I ask myself this question every time when analysing...
What liquidity pool would the algorithm print price to in order to cause max pain?
Throughout August, sellers has made the most bang for their buck so stop losses would have been trailed down to lock in profits.
I am very interested to see how price reacts to $61,800 weekly highs as my overall target is the higher timeframe reclaimed order block @ $63,866.
Objective 1: Clear $61,900 - $61,800 swing highs
Objective 2: Neutralise $62,416 long-term highs @ secure the daily inverted fair value gap as 'support'
Final Objective: Book new highs but expect resistance from higher timeframe arrays.
$63,866 end goal for next trading week.
Note
$61,400 is the highs printed yesterday.
Candle closed out as a bearish shooting star
Objective 1 is still in the cards but as buy stops has already been taken & price missed my projection by $400, probabilities for $61,800 has been lowered
Last line of defence is the weekly low located @ $57,787
Note
1-Hour TIMEFRAME
Trade closed: target reached
$63,866 bullish target has been met!
Please refer to my latest post to gain a understanding where price will draw to next.
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