BTC Daily review - Wait for trendline breakout
Recently we touched local high, after which BTC started local correction
Now everyone is interested to know where the bottom is, so lets dive into it and try to answer this question!
Locally we formed nice triangle and marketmaker is now playing around that.
At Asian session bears got trapped with accumulation near the bottom of triangle. Afterwards price moved up and trapped European traders who saw bullish structure.
So we got both sides trapped - Who we will liquidate first?
Tomorrow there will be important news USA CPI YoY. Usually before the news they already get counted into the price. That's what happening now.
Looking from technical side we are very close to pinbar which trapped Asians and it would be logical to hunt for stoplosses behind it first.
Only after that it would be safe to trade trendline breakout and open longs
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself
Now everyone is interested to know where the bottom is, so lets dive into it and try to answer this question!
Locally we formed nice triangle and marketmaker is now playing around that.
At Asian session bears got trapped with accumulation near the bottom of triangle. Afterwards price moved up and trapped European traders who saw bullish structure.
So we got both sides trapped - Who we will liquidate first?
Tomorrow there will be important news USA CPI YoY. Usually before the news they already get counted into the price. That's what happening now.
Looking from technical side we are very close to pinbar which trapped Asians and it would be logical to hunt for stoplosses behind it first.
Only after that it would be safe to trade trendline breakout and open longs
What do you think of this idea? What is your opinion? Share it in the comments📄🖌
If you like the idea, please give it a like. This is the best "Thank you!" for the author 😊
P.S. Always do your own analysis before a trade. Put a stop loss. Fix profit in parts. Withdraw profits in fiat and reward yourself
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👑 Приєднуйтесь до крипто спільноти 🇺🇦☝️
Registration for the course "Scalping for Beginners" link in bio
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