Dear Traders
I wanted to share our current analysis on Bitcoin and discuss the rationale behind considering long positions.
Our primary reason for considering long positions is the observed price movement originating from a demand area. This indicates a potential upward trend, supported by various confirmations on the lower timeframes. We have identified a Smart Money trap scenario where traders who intended to enter short positions were unexpectedly forced out, suggesting a bullish sentiment.
Additionally, on the H1 timeframe, we have identified a swing climax accompanied by an automatic rally. These technical indicators further support the potential for a sustained upward movement in the price of Bitcoin.
While market conditions can be dynamic and subject to change, the current analysis suggests a favorable environment for long positions. We believe it's crucial to stay vigilant and monitor the market closely for any shifts in sentiment or emerging patterns.
Please feel free to share your thoughts and insights on this analysis. We value your input and collaboration as we navigate the cryptocurrency market.
I wanted to share our current analysis on Bitcoin and discuss the rationale behind considering long positions.
Our primary reason for considering long positions is the observed price movement originating from a demand area. This indicates a potential upward trend, supported by various confirmations on the lower timeframes. We have identified a Smart Money trap scenario where traders who intended to enter short positions were unexpectedly forced out, suggesting a bullish sentiment.
Additionally, on the H1 timeframe, we have identified a swing climax accompanied by an automatic rally. These technical indicators further support the potential for a sustained upward movement in the price of Bitcoin.
While market conditions can be dynamic and subject to change, the current analysis suggests a favorable environment for long positions. We believe it's crucial to stay vigilant and monitor the market closely for any shifts in sentiment or emerging patterns.
Please feel free to share your thoughts and insights on this analysis. We value your input and collaboration as we navigate the cryptocurrency market.
Trade active:
1st target hitting partial area
Comment:
Full TP has been hit