In the chart above you're able to see where big players took positions, this gives insight in where they will defend their open orders. Recently bitcoin bounced from a high volume area where previously buyers took positions, it did not yet come all the way down to the previous range POC. If this intra-day uptrend continues I expect resistance around 7100. At that price level sellers will defend their accumulated positions, open long trades will take some profit (aka selling) and underwater longs will close.
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If we get to 7100 this is the trade I'm taking. Two limit entries on shorts.
If we get to 7100 this is the trade I'm taking. Two limit entries on shorts.
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Entry is 7110, think they are going to take it to the POC
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Right at the weekly open, another option is the supply zone at 72-73
Right at the weekly open, another option is the supply zone at 72-73
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Cut the first one, price was spoofed. Entry is now at POC
Cut the first one, price was spoofed. Entry is now at POC
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Looking good so far, not out of the woods yet
Looking good so far, not out of the woods yet
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Closed the short with a 4h above weekly close.
Flipped the previous poc of buyers.
Right now in the breakout zone. Seeing no significante selling expect it to go to 86
Closed the short with a 4h above weekly close.
Flipped the previous poc of buyers.
Right now in the breakout zone. Seeing no significante selling expect it to go to 86
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For the bulls it would be better to see a fast reaction, this means another move up soon. If they fail to do so we could either retest range or fall back into it. In the past when price stayed just above range with sideways action most of the time it fell back into range. Key here is to look for PA (scam wick upside, ltf lower highs),continuation to the upside or if it gets to range high look for a retest.
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Scalping this range
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I always tp half at POC, rest is for another hvn
I always tp half at POC, rest is for another hvn
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Eth scalp I just took
Eth scalp I just took
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Setup range trades btc
Setup range trades btc
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Target reached
Classic range trade, below value area low VAL, support from higher volume node, indicating there were long positions, take a long, riding it to value area, take profit at fair value POC
Target reached
Classic range trade, below value area low VAL, support from higher volume node, indicating there were long positions, take a long, riding it to value area, take profit at fair value POC