RELIEF RALLY after today's close.

Spinning top doji printed today representing INDECISION. This pattern occurs frequently and is used to warn of a REVERSAL after a STRONG PRICE MOVE.

Higher probability when it happens at an Area of Value. In this case, a strong Macro Support.

A close above 31k may give the momentum for a relief rally that's due, the one I have been waiting for. I will definitely start looking for new Long opportunities then.

Any close below 28.8k will negate this idea.

Comment:

Despite not getting an instant close above 31k on the day of post, my idea remains, the relief rally is coming.
However few changes as we have seen a higher close at 31.4k.

A close above 31.4k would give that relief rally IMO as that's where we can find the liquidation levels.

Start of week usually gives higher volatility as Instituitions are present so this might be the trigger. This is not the only reason why I think the relief is coming but a lot of indices such as USDT.D BTC.D and TOTAL are aligned.

Close below 28.8k will negate the idea as mentioned before.

Comment:

another perspective

Trade active

Comment:

As mentioned close below 28.8k will negate the idea. We closed at 28.65k.

The market is moving sideways, eating up SLs either traders in Long or Short by going LL and HH.

The best now is to observe the market's behavior but for me not putting money just means not watching. I still place trades whenever I see an opportunity but always low risk. If I normally risk 5%, this time its only about 0.5%.

Will post another idea on my new perspective for BTC.