Good news as price just took out the lows of the range and is back above the mid level ($63,000). This simply means that $74,000 is next and a breakout of the range is brewing. Now, after about 130 days of consolidation and a monthly close in the green just around the corner, it looks like strong positive price moves are coming.
Weekly View:
- Last week's close confirmed a new trend and will remain bullish as long as it stays above $60,827.
- That said, dips are for buying between $62,750 - $64,596.
Daily View
- The $58.783 level is the one to watch. Price expansion after a close above it set the weekly trend and is now back above the mid ~$63,000 level.
- Expect strong bids around those levels, especially with the weekly order block within the same price zone.
- Simplifying. Bidding first support at $63k with a target at $72k seems the most obvious trade.
Clear skies above 72k. I wouldn't bet on 74k to act as a strong resistance zone.
Actions to take:
We are back into btfd!
Weekly View:
- Last week's close confirmed a new trend and will remain bullish as long as it stays above $60,827.
- That said, dips are for buying between $62,750 - $64,596.
Daily View
- The $58.783 level is the one to watch. Price expansion after a close above it set the weekly trend and is now back above the mid ~$63,000 level.
- Expect strong bids around those levels, especially with the weekly order block within the same price zone.
- Simplifying. Bidding first support at $63k with a target at $72k seems the most obvious trade.
Clear skies above 72k. I wouldn't bet on 74k to act as a strong resistance zone.
Actions to take:
We are back into btfd!
Trade active
Start buying back below 63kH4 trend will remain intact as long as $62.5k is respected. Below this and 59k is in play.
For now we bid below 63k
Trade active
Time to take action. Should stay above $62.5k.
Trade active
One last push and is time to take profits. Moving SL towards $66k
Trade closed manually
Tomorrow FOMC, Rather wait on a retest of the same level below 64k for an entry.
Overall looks good but I'm sure there will be action for both sides.
Trade active
Back at it again. Quick scalp. Should keep the 4-hour structure intact. Nothing earth-shattering, but the setup is there.
Currently at the weekly level.
Wish me luck :)
Trade closed: stop reached
Time to sit back and wait for price to unfold direction. A deviation below 62-63k will be ideal for a long entry.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.