Bitcoin is trapped a big weekly and daily flag but respecting the main weekly ascenting TL but also price doesnt have enough stregnth and volume to break the top TL and the above monthly PRZ, the AT 38% fib (yellow one) and the 3rd weekly elliot completion but we gotta be very careful at this level sicne it is a critical area where we could expect bot hscenarios a break of the 10900 barrier and see a continuation to the 16.000 area and then 21.000 or a retest of the 9.100 zone (ideal entry would be 8.000) befire the rise ti the 16.000.
So in order to place a buy we must wait for two opportunitties the first one would be a break and close above 10.900 in the daily timeframe with a retest of this level in the 4h so price can create a strong structure and give us confirmations of a new formed a strong support area after that we can place a buy .
the other scenario (my favorite one) would be where price will tryto fill completly the flag pattern and retest the previous low and main TL ( 9.100 to 8.000 area) minimizing risk with target at 16.000 and 21.000 area
So in order to place a buy we must wait for two opportunitties the first one would be a break and close above 10.900 in the daily timeframe with a retest of this level in the 4h so price can create a strong structure and give us confirmations of a new formed a strong support area after that we can place a buy .
the other scenario (my favorite one) would be where price will tryto fill completly the flag pattern and retest the previous low and main TL ( 9.100 to 8.000 area) minimizing risk with target at 16.000 and 21.000 area