BTC view for this and next week #2
Yesterday's shorts played out well with two successful positions, contributing to an overall positive day. However, overnight, a substantial swing disrupted liquidity from the upper side. Fortunately, I observed the move and promptly entered a short position at the peak with an extremely tight stop, which is now positioned at breakeven. I still perceive an opportunity to initiate additional short positions, especially as long as the price hovers around the $41500-41700 range.
The correlation with gold persists, and while gold has initiated a correction phase, Bitcoin (BTC) is lagging but indicating a slowdown in volumes.
Acknowledging the inherent volatility in the cryptocurrency market, I've strategically placed targets at key levels and liquidity pools. It's crucial to stay vigilant in such market conditions, adapting strategies as necessary. Keep a close eye on both BTC and gold movements, as they may continue to influence each other and provide valuable insights for your trading decisions.
The correlation with gold persists, and while gold has initiated a correction phase, Bitcoin (BTC) is lagging but indicating a slowdown in volumes.
Acknowledging the inherent volatility in the cryptocurrency market, I've strategically placed targets at key levels and liquidity pools. It's crucial to stay vigilant in such market conditions, adapting strategies as necessary. Keep a close eye on both BTC and gold movements, as they may continue to influence each other and provide valuable insights for your trading decisions.