FxShzd team is here with another trade idea for the Bitcoin market. Our analysis suggests that there are currently two scenarios that traders should be watching.
It is important to remember to always respect risk management when entering trades. We are happy to answer any questions in the comments section. Happy trading
- In the bullish scenario, we have observed a bullish market structure (BMS) forming just above a higher high on the chart. Therefore, we recommend waiting for the price to reach a demand zone on the 1-hour timeframe, while keeping a close eye on the 5-minute chart. Once the price reaches the demand zone, we recommend waiting for either the QM pattern or CHoCH (Chaos Cloud) to form before entering the trade. A good entry point with a favorable risk-to-reward (R:R) ratio would be ideal, with the first target profit (TP) set at a higher high level.
- In the bearish scenario, we suggest waiting for the price to break through the lower low level. Once the lower low is confirmed, wait for the price to reach a higher supply zone and find a good confirmational entry to sell, remember this move belongs to 15M therefore check it with the corresponding TF.
It is important to remember to always respect risk management when entering trades. We are happy to answer any questions in the comments section. Happy trading
