I position myself as a scalper in the forex market, but as many other traders, I'm interested in Bitcoin as the main tool in the crypto market. Therefore, I consider investing in Bitcoin only for a long-term period.
By looking monthly chart we can see two clear break of strucures (BoS). So I'm looking for buys.
The next step I draw my point of intrests (POI) which are 50% and 75% of high and low of first BoS (red purple circles). That's my buy zone.
Then I build Fibonacci extensions from highiest levels and I've notiesed the main key level. It's just near my buy zone (50%). With high probability price will reach my first entry - 6940.00
I also recognized that there is liquidity (LQD) line (from 2972.01 till 3955.25). Half of the liquidity range falls under my second long entry (75%) so most likely is that price will also reach my second entry - 3470.00 for 1 Bitcoin.
Let see how it will work.
Good luck to everyone;)
By looking monthly chart we can see two clear break of strucures (BoS). So I'm looking for buys.
The next step I draw my point of intrests (POI) which are 50% and 75% of high and low of first BoS (red purple circles). That's my buy zone.
Then I build Fibonacci extensions from highiest levels and I've notiesed the main key level. It's just near my buy zone (50%). With high probability price will reach my first entry - 6940.00
I also recognized that there is liquidity (LQD) line (from 2972.01 till 3955.25). Half of the liquidity range falls under my second long entry (75%) so most likely is that price will also reach my second entry - 3470.00 for 1 Bitcoin.
Let see how it will work.
Good luck to everyone;)