Bitcoin two setups on monthly cam pivot
If we find resistance here at H3 and do not break H4 (key breakout level and best level to manage risk from)... we could see a retest to as low as the L3 or lower. I do not view this as the best risk management setup, however it does pose an valid position from which a short hedge position could be utilized.
If price breaks and closes above H4 while healthily finding support above it. I would target H5 with the H3 being the place to manage risk from.
This analysis is done with Camarilla pivot points monthly levels and method and remains valid as long as within the month.
Side note. As I normally would like to use weekly levels more for my swing trades I would like to point out that the next weekly levels have a fairly smaller range coming soon (between 41 and 43) leading me to lean on the more increased possibilities of moves within the larger levels.
If price breaks and closes above H4 while healthily finding support above it. I would target H5 with the H3 being the place to manage risk from.
This analysis is done with Camarilla pivot points monthly levels and method and remains valid as long as within the month.
Side note. As I normally would like to use weekly levels more for my swing trades I would like to point out that the next weekly levels have a fairly smaller range coming soon (between 41 and 43) leading me to lean on the more increased possibilities of moves within the larger levels.
