BTC is currently retesting April's highs. (note: the same highs and POI which have lead to 25K).
The question remains ... what is next? SIMPLE
PLAN...PATIENCE....EXECUTION OF YOUR TRADE
For context we ARE STILL IN A RANGE. NOT BULLISH - NOT BEARISH... WE ARE TRADERS
Lows around 29K
Mid range around 30.7K
Highs around 32.5K
IF the weekly close holds above 30.5K and start trading above 30.7K and holding expect a trend continuation towards 32K-33K
IF the weekly close fails to retain the current highs and starts breaking down (and holding) below 30K expect retests towards 29K-28K.
Market is currently getting tighter and early traders (on both sides) are getting trapped for the time being. In the meantime tape read and REFRAIN FROM IMPOSING YOUR WILL ON THE MARKET.
Stay safe and never risk more than 1-5% of your capital per trade. The analysis is merely a price action based analysis and does not constitute financial advice in any form.
The question remains ... what is next? SIMPLE
PLAN...PATIENCE....EXECUTION OF YOUR TRADE
For context we ARE STILL IN A RANGE. NOT BULLISH - NOT BEARISH... WE ARE TRADERS
Lows around 29K
Mid range around 30.7K
Highs around 32.5K
IF the weekly close holds above 30.5K and start trading above 30.7K and holding expect a trend continuation towards 32K-33K
IF the weekly close fails to retain the current highs and starts breaking down (and holding) below 30K expect retests towards 29K-28K.
Market is currently getting tighter and early traders (on both sides) are getting trapped for the time being. In the meantime tape read and REFRAIN FROM IMPOSING YOUR WILL ON THE MARKET.
Stay safe and never risk more than 1-5% of your capital per trade. The analysis is merely a price action based analysis and does not constitute financial advice in any form.
