After surging by around 16% at the start of the month, Bitcoin has been retracing since the beginning of the week.
A very nice setup has been taking shape since May 6.
I told you about it last Thursday, but it's still going strong, especially as a range is now up for grabs! (grey zone)
A CHoCH was created at $64714, which made me go long.
The price is now correcting towards its OTE zone, where there's a nice Order Block at H4.
I'm going to wait for a reaction from the price on this OB before possibly going long.
However, if this OB doesn't hold, it's quite possible that we'll go looking for $52,000, as mentioned in one of my previous analyses.
Feel free to subscribe and boost this post if you enjoyed my analysis, and let me know what you think!
Happy trading and a great week :)
A very nice setup has been taking shape since May 6.
I told you about it last Thursday, but it's still going strong, especially as a range is now up for grabs! (grey zone)
A CHoCH was created at $64714, which made me go long.
The price is now correcting towards its OTE zone, where there's a nice Order Block at H4.
I'm going to wait for a reaction from the price on this OB before possibly going long.
However, if this OB doesn't hold, it's quite possible that we'll go looking for $52,000, as mentioned in one of my previous analyses.
Feel free to subscribe and boost this post if you enjoyed my analysis, and let me know what you think!
Happy trading and a great week :)