2023-05-11 15:24:52
Bitcoin Market Update:
In the past 24 hours there was a total of $189m in liquidations, with over 49,000 traders facing blown accounts. In this time, WZRDs profited with 3 Take Profits
Bitcoin and BTC.D are both trading as a Doji so far and we need a decent move from here.
BTC.D will rely on the market sentiment, panic will push it higher but regular market sentiment should offer a decline from here and help altcoins to decline less
Bitcoin needs to offer a healthy bearish Daily candle from this location to confirm the bearish breakout and get a move towards $25,000 Until then a bullish move above $28,100 can push the market higher towards $31,000 zone
Intraday:
The intraday chart is moving choppy after we hit a total of 3 TPs in our BTC Trade. We now need a trade location.
A test of $27,850 (POI) and then a rejection will offer another short opportunity towards $26,750 (POI) and lower - Red Dotted WZRD Projection
Trade position setup has been provided for the above scenario with all necessary information including Entry, Targets, Stop Loss, RR & Criteria to take the trade.
Below $26,750 (POI) Bitcoin will decline sharply and move towards $25,900 - Red Solid WZRD Projection
Above $28,960 is a bullish zone and it will offer long - Blue WZRD Projection
In between $27,850 and $28,960 is a sideways range area.
H1: https://www.tradingview.com/x/udVVZxPd/
Daily: https://www.tradingview.com/x/u82GZxkK/
BTC.D: https://www.tradingview.com/x/T9TiObr6/
651 viewsC, 12:24