Bitcoin Update
It's time for a Bitcoin update from a Daily perspective for Intraday opportunities.
I'm going to approach this from a flexible standpoint so basically if I were to trade BTCUSD either way.
I'll 1st say that my overall bias is bearish, even though the markets don't give a shit about anyone's personal biases, but I felt the need to share that tidbit. The first & last time price visited the Order Block it's currently hovering above was back in November '18 - February '19 which means orders from this area has been absorbed. The PPZ ($3452) within it makes that O.B much more significant so once there's a break, there's an opportunity.
Divergence can be seen from P.A and the Relative Strength Index. I would be looking for a rally in price to head towards that untouched O.B ($7634 - $8215) and if "respected" I would look short opportunities from the area. A conservative entry would be entering at the old Distal ($6909).
Bear Entry - If price don't make it up to the Order Block ($7634 - $8215), I would wait for a B.A.R of the $2980 to Take Profit @ $1244.
Bull Entry - If the O.B ($7634 - $8215) is breached, I would wait for a clean B.A.R of the $8215 to Take Profit @ $9920
Entry Time Frame - H1
*I AM NOT A FINANCIAL ADVISOR *
I'm going to approach this from a flexible standpoint so basically if I were to trade BTCUSD either way.
I'll 1st say that my overall bias is bearish, even though the markets don't give a shit about anyone's personal biases, but I felt the need to share that tidbit. The first & last time price visited the Order Block it's currently hovering above was back in November '18 - February '19 which means orders from this area has been absorbed. The PPZ ($3452) within it makes that O.B much more significant so once there's a break, there's an opportunity.
Divergence can be seen from P.A and the Relative Strength Index. I would be looking for a rally in price to head towards that untouched O.B ($7634 - $8215) and if "respected" I would look short opportunities from the area. A conservative entry would be entering at the old Distal ($6909).
Bear Entry - If price don't make it up to the Order Block ($7634 - $8215), I would wait for a B.A.R of the $2980 to Take Profit @ $1244.
Bull Entry - If the O.B ($7634 - $8215) is breached, I would wait for a clean B.A.R of the $8215 to Take Profit @ $9920
Entry Time Frame - H1
*I AM NOT A FINANCIAL ADVISOR *
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