Now there're two major scenarios ahead of us and always remember, After the trigger; They might get changes as time goes on...
- There's a possible deviation above Monday's High and we can look for Shorts, If BTC gets the closings below $23250 or $22400. Targets are $22575 - $22100 - $21460 - $20550. 🔴 Invalidation should be a claim above $24200.
- Otherwise, If we get the closings above $24900, Then it'll confirm that there's no more chance of deviation, and it'll roll into the bullish bias again. So, Our entry will be a proper retest on $24900, With targets of $25800 - $26700 - $28250. 🔴 Invalidation should be a break below $23700.
funny enough what you retail traders see as support us just liquidity. BTC us gonna pump above those daily swing highs and take out those buy side liquidity and after that we are left with going to the buttom.
Helical_Trades
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@victorordua, With all respect to your knowledge, But I can't recognize the daily swing highs you talked about. The first swing high on Daily TF is located at $31767; And also, It's near to 6.18 FIB's retracement level.
So, If you're sure about your idea, Then my trading setup is not far from logic I guess.
Let me tell you a better story than (Those buy sides or Those Swing highs) : We have a historical S/R zone marked around $25800 which is my first TP on the Long setup. It was the local support of 2020's BullRun, Formed on 1H TF. IF, And only if we get the closings above $24900, Then; Bears will take the counter on the first Historical S/R zone and above it, Will be your liquidity zone to fill the buy orders again and get for massive Long squeeze you're talking about my dear.
If BTC is going to sweep Those swing highs you talked about, Based on chart; It needs to sweep at-least $32660 to claim -Those- swing highs. Good Luck.
victorordua
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@Helical_Trades I don't want to assume you don't know what a swing high is. lf you literally switch to a daily TF you can see that swing high @22700 that got swept. and below that around 22400 their is a swing low which will soon be taken out. so I would love to know what your definition of a swing high is 😏
Helical_Trades
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@victorordua, Well then, It's not a Those Victor, It's a local swing high, For sure I learned something in 8 years, Not a lot, But I candle handle the charts... So, In this case, We're on the same page I guess!
victorordua
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@victorordua correction the swing high @ 24700 ** on daily TF
Ig we both didn't understand each other when I meant the daily swing high I was referring the one @24700 which just got swept to take out the buy side liquidity. if you even look closely their are some relative equal lows and imbalances below that needs to be taken out before a proper pump can occur. it all dies down to me saying my Bais is still big time bearish.
Helical_Trades
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@victorordua, Yeah, We got each others wrong for sure... I'm bearish in HTF neither :D
I was bearish from $59999 and I'll be bearish till we get the $12050's support!
Sorry for my behavior earlier; I was getting you so fucking wrong...
victorordua
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@Helical_Trades no probs man. ig it's finally tanked to my first are of interest