From the Technical Views:
1. From the daily point of view, the price reached the major resistance level, and we can expect a deeper retracement to the downside, before the continuation to the upside.
2. Also, BTC also created a W pattern, we can expect a deeper retracement to the middle of the W pattern, we can find a short opportunity and target the middle of the W pattern. And this target is correlated with the 61.8 FIB level, the price may retest to this zone before moving to the upside.
How to approach BTCUSD?
1. Switch to the lower timeframe and waiting for the market shift to the bearish environment.
2. Once the market becomes the bearish environment, looking for the short opportunity in the lower timeframe if your rules of the strategy are fulfilled.
3. Short at the moment may not a good idea, because overall is still extremely bullish in the lower timeframe, it is quite risking your capital if you just jump into the short side right now.
The result might not follow my analysis, this analysis is based on the TA & COT perspectives.
Comment down below let me know your view on BTCUSD or which pairs you would like to me analyze in the future.
1. From the daily point of view, the price reached the major resistance level, and we can expect a deeper retracement to the downside, before the continuation to the upside.
2. Also, BTC also created a W pattern, we can expect a deeper retracement to the middle of the W pattern, we can find a short opportunity and target the middle of the W pattern. And this target is correlated with the 61.8 FIB level, the price may retest to this zone before moving to the upside.
How to approach BTCUSD?
1. Switch to the lower timeframe and waiting for the market shift to the bearish environment.
2. Once the market becomes the bearish environment, looking for the short opportunity in the lower timeframe if your rules of the strategy are fulfilled.
3. Short at the moment may not a good idea, because overall is still extremely bullish in the lower timeframe, it is quite risking your capital if you just jump into the short side right now.
The result might not follow my analysis, this analysis is based on the TA & COT perspectives.
Comment down below let me know your view on BTCUSD or which pairs you would like to me analyze in the future.