After surging by around 16% at the start of the month, Bitcoin has been retracing its steps since the beginning of the week.
A very nice setup is taking shape.
A CHoCH was created at $64714, which made me go long.
The price is now correcting towards its OTE zone, where there's a nice Order Block at H4.
I'm going to wait for a reaction from the price on this OB before possibly going long.
However, if this OB doesn't hold, it's quite possible that we'll go looking for $52,000, as mentioned in one of my previous analyses.
Feel free to subscribe and boost this post if you enjoyed my analysis, and let me know what you think!
Good trading and happy weekend :)
A very nice setup is taking shape.
A CHoCH was created at $64714, which made me go long.
The price is now correcting towards its OTE zone, where there's a nice Order Block at H4.
I'm going to wait for a reaction from the price on this OB before possibly going long.
However, if this OB doesn't hold, it's quite possible that we'll go looking for $52,000, as mentioned in one of my previous analyses.
Feel free to subscribe and boost this post if you enjoyed my analysis, and let me know what you think!
Good trading and happy weekend :)