BTCUSD - final correction move before new grow
Hi, friends. BTC correction is coming for the end. Yesterday we saw big stoppage volume + price rejection in the form of big tails, it's a first sign of stopping the current trend (we have bear trend intraday) and going to the balance structure. Possible future balance range will be 8290-8900 or 8540-8900. As usual after first stoppage volume the price make 1-2 extremum update to finally knock out early buyers and execute sellers who are standing on breakdown. So with a high probability the price can make a false breakdown of 8290, also it's a daily support level.
But there may be such an option that the price goes into balance right now and does not go lower. In this case we will be waiting for signal inside the balance at lower timeframes or go long after breakout 8900.
So we have 3 areas for opening long
- 8290 after false breakdown
- 8900 after true breakout
- now at lower timeframes
Long should be only with confirmation in the form of bull activity and bear weakness.
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But there may be such an option that the price goes into balance right now and does not go lower. In this case we will be waiting for signal inside the balance at lower timeframes or go long after breakout 8900.
So we have 3 areas for opening long
- 8290 after false breakdown
- 8900 after true breakout
- now at lower timeframes
Long should be only with confirmation in the form of bull activity and bear weakness.
Risk Disclaimer: Futures , stocks, crypto and options trading involves substantial risk of loss and is not suitable for every investor. Any content from mooncatcher should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Past results are no indication of future performance. Mooncatcher is not responsible for any losses incurred as a result of using any of our trading strategies.