BTC | XBT | LONG | Areas of Interest
With the large accumulation over the last two months, most of the buy-side imbalance levels have been broken on #BTC. While this is a great opportunity to BUY BTC traders/investors must be careful of the huge risk taking a buy-side trade at this point.
If we break $31,000 on the daily we will be heading lower towards 28-26000 $ for #BTC
On the other hand we have one last buy-side imbalance area of support for buyers, which could drive price back towards $37,000
Look to see a few Sell-side imbalance areas broken if you want to be risk adverse on the long setup.
Don't forget to follow me on Tradingview 🤴🏾
Happy Trading
Mr Ionic
If we break $31,000 on the daily we will be heading lower towards 28-26000 $ for #BTC
On the other hand we have one last buy-side imbalance area of support for buyers, which could drive price back towards $37,000
Look to see a few Sell-side imbalance areas broken if you want to be risk adverse on the long setup.
Don't forget to follow me on Tradingview 🤴🏾
Happy Trading
Mr Ionic
BTC has a lot of over reactions to moves due to the large retail volume on a day to day basis.
Happy Trading
Mr Ionic