Hi, friends.
First of all we must to be clear what priority we have now on the current timeframe - I think it's bull priority. Why?
1. Max horizontal volumes are concentrated at the bottom of the balance
and the price is above it.
2. Last mini-consolidation goes up.
Does this mean that you need to buy right now? No.
We have a wide balance with the range 8650-9770. Inside the balance we must to trade from it borders. Or wait until this balance goes up or down.
For now you can do only intraday trades - if the price break out 9400,
we will see a continuation growth to 9770. Also you can try to buy from 8850 - it's strong support level.
But the best point now I think is to wait until the balance breakout or breakdown this wide balance.
First of all we must to be clear what priority we have now on the current timeframe - I think it's bull priority. Why?
1. Max horizontal volumes are concentrated at the bottom of the balance
and the price is above it.
2. Last mini-consolidation goes up.
Does this mean that you need to buy right now? No.
We have a wide balance with the range 8650-9770. Inside the balance we must to trade from it borders. Or wait until this balance goes up or down.
For now you can do only intraday trades - if the price break out 9400,
we will see a continuation growth to 9770. Also you can try to buy from 8850 - it's strong support level.
But the best point now I think is to wait until the balance breakout or breakdown this wide balance.
BTC update -
Our balance is still in play. But the priority has changed.
Now we have a bear momentum inside the balance, because our last points of reversal are decrease. For mid-term move we need to wait until this main balance breakout or breakdown. For short-term move we can carefully buy intraday if the price breakout 9070. But this signal wouldn't be strong, so position size must be low.