based. on camarilla pivots on the monthly levels. if BTC holds the weekly breakout upside h4 pivot at 51.9 then I see it is fairly possible it strikes 55 and maybe monthly H6. keep in mind btc is already 7k ahead of its next developing monthly pivot.... and that in the last 37 months only were there 2 where price did not revert to its new monthly level... yet...
51.3k p/l3 can scalp to it or wait and try to buy dip there Stop loss H4 or just over H3 if scalping to it Camarilla pivots / CPR
Because even if new weekly pivots didnt get tested over 90% of the time... the rest of the indicators do not look like they want to argue at the moment. Buy on the pivot if bullish. Stop in mid 49 regions for short swing. Camarilla pivots and CPR. magnet trade logic
camarilla pivots and CPR. levels and magnet will be locked in on weekly close
camarilla + cpr. target target daily h3 and developing weekly pivot to be formed on Sunday close. Stop loss daily H4. Correction will still happen. so if it does break during today the best idea would be to re enter on developed weekly H3 once formed. Or buy on the developing character.
The developing levels can change prior to Sunday close remember. so if you are not shorting then the P level that come eventually be the next good play to buy the dip also at the Pivot instead. Use camarilla and cpr methods.
Will test the pivot. and will visit and likely reject the first 3. no matter we visit H3 or L3. first one of those we go to will be a lie. especially if it leaves purple line untouched
Weekly pivot retrace. could be from here. or also new price action prior to weekly close could raise or lower that target and entry level. so keep your eyes open
The weekly pivot like the monthly pivot once plotted has a high frequency of being tested. Even if that is a flash crash to the level. Currently, that retrace sitting at around the 37k at this moment. So a couple things could happen We start correcting early today and tomorrow. This is more bearish because the level is not locked in and the developing weekly...
entrys possible here 1.78 daily H3 2.12 projected monthly h3
to coming monthly pivot. it would make sense to test this first and reject for a clear road to a retracement in the low 20k area (yearly pivot untested. ) if short from higher keep it or defended profit. if attempting long here beware of this 4hour death cross and use stoploss lower than L4
Pivot / Daily H3 or Weekly H3. with the target of Daily and Weekly Pivots (purple lines). Daily H4 for tight stop. Weekly H4 for wide stop. Camarilla + CPR