Previous chart I posted suggested potential move from L3 to H3. we got that which offers two potential setups from here
Hourly break and close above H4.. go long to H5 and or H6. stop loss H3
Hedge short at H3 with target to lower 50k or back to L3 with stoploss at H4
camarilla pivots intraday levels
close hourly candle above H4 target H5 and H6. stoploss H3
Close hourly candle below L4 target L5 and L6 stoploss L3.
bounce off H3 to downside or L3 to upside target the opposing level 3 with a stop at the level 4 on which you entered
Bitcoin is in a place right now where it could swing both ways. If you are day trading an hourly close with these setups on...
based on the logic that the next developing monthly pivot gets hit (as it has the last 48 out of 50 months at least). However this level is only confirmed when monthly closes. price could rise in the next day or drop also altering its development. However based on the current consolidation and price action that is where it is now. It coincides with the weekly...
these are camarilla pivots weekly and monthly levels. H3 level indicates potential downward reversal level. It may not be full reversal for a long time. but more often than not at least to the other side of its range
camarilla pivot points daily levels. use hourly confirmations
Long if break and retest H4. target H5 and H6. stoploss H3
Short if reverse or holds H3 as resistance. stop loss L3 and/or....
Short if L4 broken and retest. target L5 and L6 stoploss L3
target L5 and L6. or monthly pivot at around 45k or the monthly l3 at 44k. tight stop daily H4. using camarilla pivots daily levels with the logic that new monthly pivots revert price action like magnets