From September 24, 2019 'til now bitcoin's price has been ranging within a HTFZ ($7435-$8783). The swing low of the move ($7793) took multiple hits which gave price momentum to start printing HHs & HLs. Price action was able to form a new untouched zone ($8188-$8182) which should give the highest probability trade. However, there's barriers waiting to stall price on it's way up.
If price dips in the zone, I would long it from $8282 to $8783 which is the starting point of the HTFZ. If price can break above the $8783 level then I would look to enter again on a retest to ride it to the next barrier which is $9531.
If price were to engulf the zone ($8188-$8182) I would wait for a B.A.R to short it to the swing low ($7793). It's imperative to be flexible.
NOT TRADING ADVICE!!!
If price dips in the zone, I would long it from $8282 to $8783 which is the starting point of the HTFZ. If price can break above the $8783 level then I would look to enter again on a retest to ride it to the next barrier which is $9531.
If price were to engulf the zone ($8188-$8182) I would wait for a B.A.R to short it to the swing low ($7793). It's imperative to be flexible.
NOT TRADING ADVICE!!!
Comment:
New zones were spotted. I would wait for a B.A.R of the $8465 level to long it to $8688. I'll update as price unfolds.