Bitcoin / TetherUSShort
BTC ANALYSIS 12TH NOV 2024
Updated
🚀 BTC Market Update 🚀
Bitcoin's recent surge has left multiple imbalances on the downside across higher time frames. As of now, we've seen the 1-hour candle close below the recent low, hinting at a potential retracement.
Plan of Action:
Wait for Retracement: The focus is on waiting for price to fill the Fair Value Gap (FVG) and observe a rejection from that level.
Profit Target (TP1): If this retracement leads to a downside move, our initial target will be the demand zone below.
Extended Target: Should the price continue to dump, hold positions as BTC may aggressively move downward to trap buyers and clear those imbalances.
🔔 Stay Tuned: Follow, like, and comment for more in-depth market insights!
Bitcoin's recent surge has left multiple imbalances on the downside across higher time frames. As of now, we've seen the 1-hour candle close below the recent low, hinting at a potential retracement.
Plan of Action:
Wait for Retracement: The focus is on waiting for price to fill the Fair Value Gap (FVG) and observe a rejection from that level.
Profit Target (TP1): If this retracement leads to a downside move, our initial target will be the demand zone below.
Extended Target: Should the price continue to dump, hold positions as BTC may aggressively move downward to trap buyers and clear those imbalances.
🔔 Stay Tuned: Follow, like, and comment for more in-depth market insights!
Trade closed: target reached
price dumping start taking profits
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