Update BTCUSD 06.07.22

6 июл. 2022 г.

BTC is into range.
Need confirmation for enterning long : Break of structure @ 21000 circa and the range break.
those are interesting days for BTC since if goes under liquidity spot, the bear run won't finish utill ends @16000 in the optimistic forecast, or even at 9300.00, as -0.27 fibonacci, this would be a problem for btc.
Anyways I am minding a future bull run for BTC

Once BOS occurs we can open the first position, and since we need the trendline break which is fundamental for delating the short option, it's better to open circa 25% of our total budget
TP1 @ 26000.00 for weekly inefficiency ( purple line )

We can wait for the reintrackment on fibo 0.618, which should meet the trendline touch, which is, as you know, another signal of confirmation for the opening of a long position.
It would be just a weekly drawdown recover, not a very and consistent bullish run, for this we have to wait for few confirmations.
First, break of trendline. This is fundamental since no break means a further fall-out of the price.
The trendline must be broken as well as the white range zone @3000.00.
We can try with an enter for the growth of the price from 21-23000 untill 30000 (both liquidity spots) but it will be risky and we anyways have to analysis in days the option.

Instead, when we will see the break of trendlina and range, the further tp, in monthly tf could be
TP2 @ 34500.00, fibonacci -0.27 and inefficiency recover
TP3 @ 39600.00, fibo and bos

I'll open the rest of the position
I'll set these two even because are under the liquidity spot and range zone, for safety we close 25% and keep 50% still open to collect another 25% once arrive at tp3.
if the bullish run will take place, we can forecast for higher target but not until the break of the monthly bearish trend.