POTENTIAL BTCUSD LONGS ARE SETTING UP
BTC is setting up some BULLISH structure has have been analysing over some few weeks now.
And I am still BULLISH on it providing some technical levels I am looking at.
I run this analysis based on using:
Fibonacci Retracement levels
Confluence with Order BLOCKS
And Shark Harmonic BULLISH Pattern.
From the All Time High of about 68950 and swing low of 28600 to where we are currently is a deeper retracement to 88.6% @ 33200.
This where the SHARK PATTERN confirms an entry BIAS @ D leg of 32950. The RISK level remains 28600 low which we do not want to trigger as this will lead to weakening of the current BULLISH.
As we haven't seen such a weakness, the BULLISH tone remains and all we have been seeing with Price Action remains a deeper retracement. And such a discount is all Traders dream and being able to catch is how to conquer FOMO.
More reinforcing technicalities is the break above current high on the Daily Price Structure @ 44456 to 45850.For me this a significant Bias that gives me an indication more high prices are possible. Also the creation of liquidity above this areas means there are loads of stops orders that will add as an additional propellant for price if further demand flows in.
Also I like to see DOJI's and HAMMERS in my POI interest as this basically shows me the indication of the type of aggression and huge competition in investors psychology as they are showing they are willing to grab the instrument at such Point of Interest(POI).
The last is to use the current CHANNEL as a guidance of how price may progress till we break.
I hope this gives you a bit of insight into my bias and if it enlightens you further do not hesitate to give a like or a comment.
Wish you happy trading and all the good luck you need and the most important trading psychology you need to be successful.
And I am still BULLISH on it providing some technical levels I am looking at.
I run this analysis based on using:
Fibonacci Retracement levels
Confluence with Order BLOCKS
And Shark Harmonic BULLISH Pattern.
From the All Time High of about 68950 and swing low of 28600 to where we are currently is a deeper retracement to 88.6% @ 33200.
This where the SHARK PATTERN confirms an entry BIAS @ D leg of 32950. The RISK level remains 28600 low which we do not want to trigger as this will lead to weakening of the current BULLISH.
As we haven't seen such a weakness, the BULLISH tone remains and all we have been seeing with Price Action remains a deeper retracement. And such a discount is all Traders dream and being able to catch is how to conquer FOMO.
More reinforcing technicalities is the break above current high on the Daily Price Structure @ 44456 to 45850.For me this a significant Bias that gives me an indication more high prices are possible. Also the creation of liquidity above this areas means there are loads of stops orders that will add as an additional propellant for price if further demand flows in.
Also I like to see DOJI's and HAMMERS in my POI interest as this basically shows me the indication of the type of aggression and huge competition in investors psychology as they are showing they are willing to grab the instrument at such Point of Interest(POI).
The last is to use the current CHANNEL as a guidance of how price may progress till we break.
I hope this gives you a bit of insight into my bias and if it enlightens you further do not hesitate to give a like or a comment.
Wish you happy trading and all the good luck you need and the most important trading psychology you need to be successful.
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