i think we might see btc touching 35k or higher,

the bulls have been defending support zone quite well, and keeps retesting closely

but after touching 35k or higher..... if it doesn't hold then it'll be a good time to short

1h candle closed well for now

this still stands!

btc 4h tf

we need a close above trendline and above the previous 4h candle close high (abit higher than 34800)

with a nice close above, market structure is broken, and chances of upward movement is much higher

#analysis

btc seems to be breaking down now,

as mentioned, it's a dangerous zone here as btc is out of the resistance trendline on the daily tf,

further breakdown will lead us back into the descending triangle -> lower than 34400

stay safe guys!

don't try to chase the dump so much, but if you're confident of price movement then go for it! :-)

a close below 34550 would be a nice short confirmation

below 34400 would be even better

as of now, 34550 seems to be holding and btc might just do some ranging

ranging scenario!

scenario 2

dump as former support broke and now turned resistance

scenario 3

something like that would mean it was a stop hunt/ spring test by the whales to pump up aka manipulation

you can try shorting now,

stops at 34800

super risky trade, can be rewarding

cheers!!

received some questions,

once again this trade is RISKY (almost super risky)

but I would think it's worth a shot with stops at 34800, making your potential RR about 4-5

as shared before in the market structure lessons,

now btc is on a LH LL structure, hence if prices were to come back to take a HH, then trade is invalidated

the RR can be rewarding, but of course this trade is RISKY.

still worth a shot on a small margin if you have a higher risk tolerance! :-)

cheers!

📉 TRADE ALERT

I just entered a btc short at cmp,

just giving it a shot since my SL is just right behind :-)

let's see how it goes!

#trades W

current candle's bottom wick is not very convincing, there's hope for profits! 🙂

stops to entry, cheers! 😛

so far my bias is with scenario 2

as you can see the former support is now a strong resistance with that long top wick just managing to tap it slightly

if you're in the trade as well, remember to take 50% profits as this trade is at risk of being stopped out any time

SL+, trailing SL, or SL entry

cheers!

just wanted to share again how indicators are lagging and you should not trade purely based on indicators

indicators are only for you to CONFIRM your speculation or trade

it should not be the reason you're entering a trade

before the EMAs crossed, we've already recognised the new market structure LH LL, and btc is going to go on a down trend

especially important for lower tf trading!

#tips

📉 TRADE ALERT

just shorted btc as i'm not too convinced by the reversal

volume is looking really low!

stops are also tight,

btc still did NOT close above upper resistance 34855

apologies for the late message as i always prioritise my trading first before sending out a message

#trades W

stops to entry here, 25% profits taken

very quickly stopped out after taking profits and shifting SL

might look for a short re-entry here for the same reasons

still not too convinced of the bull's strength

overall, it's very volatile now, so please becareful if you are looking to trade now!

btc just cleared upper resistance with a bullish spinning top

with decent volume, might see a move upwards here

so a somewhat scenario 3 played out 📈