✅ BTC/USD ANALYSIS✅
Btc is currently in its consolidation phase after the most recent massive sell off. As you can see price has traveled quite far away from the 4H down trend line, price wants to retest this area at least one more time before continuing down. It has broken the 1hr timeframe downtrend and created higher high's. All that is left to confirm this entry is a break + retest of the 49.6 R level. As we monitor price around this area, if we see price create bullish price action then we will long it with a nice 1 : 2.5 R
Btc is currently in its consolidation phase after the most recent massive sell off. As you can see price has traveled quite far away from the 4H down trend line, price wants to retest this area at least one more time before continuing down. It has broken the 1hr timeframe downtrend and created higher high's. All that is left to confirm this entry is a break + retest of the 49.6 R level. As we monitor price around this area, if we see price create bullish price action then we will long it with a nice 1 : 2.5 R