One chart explains the current BTC market structure!
4-hour timeframe: The bearish structure remains intact; the higher high is at 8.42
1-hour timeframe: Bullish structure; the lower low is at 8.12
Right now, the closer price gets to the 4-hour resistance at 8.42, the more you should take profit on longs and wait for a shorting opportunity if consolidation breaks down.
Before 8.42 is broken, if price comes down again, consider going long once more near 8.12; the stop-loss is the previous 1-hour low.
The key level below is around 80,000; below that is a vacuum zone. So wherever you go long, this is a hard stop-loss level.
Don't overcomplicate trading!~ And don't wonder whether BTC is heading to 9w or dropping to 7.5. Until it breaks above 8.42 or below 8, just follow the structure for your own trading timeframe.
$BTC #Gate最新储备金率达118.49%
4-hour timeframe: The bearish structure remains intact; the higher high is at 8.42
1-hour timeframe: Bullish structure; the lower low is at 8.12
Right now, the closer price gets to the 4-hour resistance at 8.42, the more you should take profit on longs and wait for a shorting opportunity if consolidation breaks down.
Before 8.42 is broken, if price comes down again, consider going long once more near 8.12; the stop-loss is the previous 1-hour low.
The key level below is around 80,000; below that is a vacuum zone. So wherever you go long, this is a hard stop-loss level.
Don't overcomplicate trading!~ And don't wonder whether BTC is heading to 9w or dropping to 7.5. Until it breaks above 8.42 or below 8, just follow the structure for your own trading timeframe.
$BTC #Gate最新储备金率达118.49%
