And this is the KYRREX project again with you and now once again we are looking at the “Great Alpha” - BTC /USD.
For the last two publications (the last one, and before), we have been trying to simulate a short deal from the 5610 zone. Today is being traded, in this very zone.
The algorithm for entering a short-term trade is the following: today we are waiting for the closing of the day in the zone and watching the closing point of the day tomorrow. If the candle closes at the exit from the zone and below the middle of the previous candle tomorrow, we will have sellers' reaction and we can open a trade for downwards, with a minimum stop over the whole combination, in the area of 5700.
For those who are familiar with combinations and patterns of Price Action - you can watch the occurrence of the patterns "Absorption" or "Rails" on the candles today and tomorrow. Or, it is possible to build one higher in the zone of a single pattern from the "Pin Bar" series and start trading from this down.
The weekend is coming and the “thin” cryptocurrency market is becoming even thinner, so you need to be careful and wait for a clear picture of the turnaround patterns. It should be clear that a thin market can be easily pushed through by trading volumes, but this movement will not be long-term.
Wish you All success and profit!)
* All KYRREX publications are made solely for informational and / or marketing purposes and should not be construed as economic, financial, investment advice, recommendations, or trading ideas. KYRREX does not take into account goals and situations of a particular trader in its analytical publications and is not responsible for any loss as a result of investment based on published analytical materials.