BTC Update: no clear direction, but scalp opportunities.

It is time for an update again, it took a few days, but there was simply nothing to update. We have some quite borring price action. Twitter has been talking about how week BTC look, which is true to the extend that we broke the uptrendline (green) to the downside, but we did not get a huge liquidation cascade and price is hovering around in a small range. As long as we don't see a drop below 21.6K I am not thinking about a new low, we would still create a higher low on the 4H+ timeframes. Thus as long as we dont see break to the downside or to the upside we can only play scalps. Entering a swing does not make sense if you dont see a clear direction which is missing at this point. Thus stay lets wait, let to trade come to us. As soon as we see some action I will update you on the next steps.

BTC 1H with Powertrend shows us the situation we are in in a bit more detail and even here we are getting mixed signals. We are above the 200 EMA (blue line) which holds as support for now. However, at 24K we have quite a huge supply zone. Hence if you are looking for a scalp I would either enter on the 200 EMA bounce for a quick long into supply or short supply by watching for reverals signs on the 15min timeframe once we get into supply and then short till the 200 EMA.