$BTC. This is the area that's important to flip LTF, supply created within supply after that last resistance. If we flip it, looking at green circle. Very comfortable, good read to not panic and fade that news-acceleration. As I said prior, structure looking even better with that YO sweep & volume node on top if it. The why was explained many times before, go back in my feed for extensive but: 1) Range deviation -> target 1 is midrange 2) Coinciding with midrange -> YO which was swept now and closing hourly candles above, baiting more late shorts 3)bullish divergences all the way down on oscillators up till 4H now!! Which is equally as oversold as 10/10 btw. 4) Big volume node on that last drop -> 160M longs liq 5)Major SSL taken from high timeframe important level 6) Much liquidity created due to the velocity of the move A simple chart often hides thorough thinking, this is the TLDR btw. I'm NOT blindly longing in a downtrend. Risk is managed. Off to play padel 🤝

Share







Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.