Happy weekends people. Today we'll be looking at BTCUSD .
Price recently broke past the 55,500 support, the area where sellers could look for a straightforward retest to short. (marked as Retest 1 in chart)
If price does break above the ~55,500 support turned resistance area , we can look for a deeper retest to short, which could be at the ~57,000 - 59,000 level with the confluence of an Order-block on the Daily TF, which supplied the strong downward move that led to current price levels. (marked as Retest 2 in chart)
Major turn level to the upside IMO, would be if price manages to break past the ~60,000 - 62,000 level, where the High Volume Node + Point of Control is at. At that point, chances of an ATH would be greatly increased.
On the flipside, if Buyers are not able to defend the ~51,500 - 50,000 level (Major demand + Upward trendline on the Daily TF), further support levels may not be able to hold price from going into a major sell phase (<40k).
Charting includes : Volume profile , Supply and Demand , Order Blocks , Classic Patterns and Trendlines .
Like to stay updated with the idea, feel free to drop a comment/ DM if you have any questions (:
As always, stay safe and happy trading!
Price recently broke past the 55,500 support, the area where sellers could look for a straightforward retest to short. (marked as Retest 1 in chart)
If price does break above the ~55,500 support turned resistance area , we can look for a deeper retest to short, which could be at the ~57,000 - 59,000 level with the confluence of an Order-block on the Daily TF, which supplied the strong downward move that led to current price levels. (marked as Retest 2 in chart)
Major turn level to the upside IMO, would be if price manages to break past the ~60,000 - 62,000 level, where the High Volume Node + Point of Control is at. At that point, chances of an ATH would be greatly increased.
On the flipside, if Buyers are not able to defend the ~51,500 - 50,000 level (Major demand + Upward trendline on the Daily TF), further support levels may not be able to hold price from going into a major sell phase (<40k).
Charting includes : Volume profile , Supply and Demand , Order Blocks , Classic Patterns and Trendlines .
Like to stay updated with the idea, feel free to drop a comment/ DM if you have any questions (:
As always, stay safe and happy trading!
Trade active:
Shorts activated from Optimal zone.
