I am short on BTC, targets at 25k. we broke out of the recent bullish momentum and we are rejecting a strong liquidity zone.
Here it is my look on the market right now. The price keeps bouncing from resistance to support. At the support level marked by the arrow price made multiple bounces, sign of a high liquidity zone. Also contrary, it failed to go above the resistence sign that the volume might get weakened in the support zone. I look for a retest in the upper liquidity zone where...
Oil rejected the 105.5 weekly level with wicks on the 4h and now is heading to the liquidity zone around $100 price point.
Reversal in sight on Bitcoin. We are likely to make a wick fill after the rejection on the monthly level.
We can see that a lot of rejection at the top liquidity level. Also is a probability that we can see a double top. I will watch it closely on m15 and I will get on this trade if the price gives me the opportunity.
I expect overall consolidation on gold for the next week. We may touch the WEEKLY level at the beginning of the week then go back to 1815 to grab some liquidity then go up to the weekly trendline. It is hard to be accurate in the consolidation phases, that is why we need to use the intraday chart (5m, m15, m30) to get insight on what is going to happen in that...
I expect a move to the lowest liquidity level on the chart. We can see the bearish pressure in the bearish engulfings and in the PA (price action) that is slowing down the upside movement and on top there we have an unfilled gap from the last week. This is what I expect for the next week on GJ.
I expect a brake of the consolidation to the upside! If price will brake that liquidity zone around 152.000, most likely it will visit the last highs of 153.500. I won't place any trade based on this analisys, this will only help us get the feel for the market, the intraday PA is key, at least for me.
I believe that after the strong weekly bull closure wi will see an other pump to at least 1850 and then, a push to the MONTHLY TRENDLINE. This is the overall direction of the market for the next week for me. I am looking forward to see the PA on the intraday chart for the best entries to ride the markets on every move.
I think that the price will take out al the stops that are above the daily level with a wick and then melt down to the liquidity zone.
After multiple rejections on the intraday chart(right) I decide to buy with the targets on the next liquidity zone on 4h. Let's see how it goes!