BITSTAMP:BTCUSD Hello everyone 😃 Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
Here we have the macro trading zone into the micro TF the trading zone is located on $44500 - $34500. This is our primed zone for now; But today we'll head into dipper movements caused by similar fractals !
- First, take a look on our astrological time line first. Based on the data we have, There's a time-line appeared around 7th March. So we'll use it as an advantage compared to the fractal we have.
📚 Let's head to our technical and classical analysis before the fractal : There's a formed Flat-Top triangle ( ascending triangle ) which is leading the pair into our local S/R zone/line at $39650. So we have the bullish support from the lower trendline and the bearish resistance at $39650. - If we get the break-out above the S/R zone, BTC will enter the no-trade zone, and so it's not an ideal think to take aggressive LONG after break-out. To becoming bullish again ( into micro TF ) we need that break-out confirmation above $40600's bearish order-block. 📌 As you can see, Aggressive bullish candles are all located above $40600 and between it and $39600 there's a neutral base. So it's good to mention again, It's not an ideal think to take LONG into this zone !
- If we get the rejection below the trendline, BTC will dive to $38000's bullish order-blocks; Also we can call it as a bullish base cause there're lots of order-block located into the mentioned zone. I would located my SHORT below the order-block to make sure that there won't be anymore possible chance to pullback above $40600's bearish breaker ! 📌 As you can see, There're couple of bullish candle laddered from $34500 to $39650 very aggressively; So there won't be anymore threat for bears after breaking below the mentioned support zone. So we'll locate our SHORTs below the blue support zone and aim for range's low and $29000's support !
📊 The trading plans should be something like this : 🔴 Be cautious that the Stop-Losses are based on active management, So you need to wait for a confirmation below/above the mentioned SL to cut your losses ! - Also to mention that it's better to have your personal targets engaged with the position...
📚 We talked enough about classical options, Now let's head to our fractal's scenario : There's a similar formation from early Feb's movement with current structure ! Also with the possible pivotal line we have; This bearish scenario can make the wave more clear for us. Based on the fractal we have, It's very possible for BTC to make it's path below the range's low.
📑 Conclusion : There's a formed triangle and the there're some similarities with early Feb's movement. We'll split our position into two scenarios; - Take LONG above $406000 - Take SHORT below $38000 Both have active management based strategy ! - Based on our fractal and astrological possible pivot line, Any break below the trendline will clear the path for bears to made their owns below the range's low !
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My current view for bitcoin :)