BTCUSD 4h EXPECT -8% DROP!!! - Using Market Structure - Price Action we can see market on a higher TF making LHs and LLs which means we are in a downtrend, using Price Action to determine our next targets we see a Daily Support Level @ $30,387 which might be touched in the next day or two, if this works out correct we get a 8% move to the downside which is very very big. Remember: We can go even lower than this Daily into our next support lines below or we might have a trend reversal and not even reach the Daily, this is only an idea that CAN play out. THIS IS NOT GUARANTEED ONLY AN IDEA, PLEASE DO YOUR OWN RESEARCH BEFORE ENTERING TRADES.
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UPDATE: Comment: UPDATE: I updated the new Daily Open which now haves confluence with the POC (the POC is currently a strong resistance and I want to see the Daily Open turn into resistance as well) + I added a Fibonacci Extension, the 1.382 haves confluence witht the Daily which makes it a really good target! And if we break the POC I see the Daily also haves confluence which makes it a good resistance level.
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It's my first time trying to make a Wedge and maybe we have a Falling Wedge which is bullish, if the Wedge ends up playing out accordingly than I won't expect price to come below $31,600 range:
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UPDATE: I just woke up and took some profits, my S/L I moved down to 32,000. If I get stopped out now I made a total of 85%