Hey guys.
This is a weekly bitcoin review.
Last time I talked about how we are in a bad place to trade and where there could be weakness and potential corrections, before the 100K breakout. And early in the week we saw a test of 90K.
On the liquidation map, the important areas to watch for are 101K and 90K, which can be tested, and if broken, could be a run-up.
Last week the ETFs market had mixed dynamics with selling at the beginning of the week and recovery at the end of the week, with a result of about -100 million.
On the chart you can see what is called a sawtooth, meaning price is sawing a range where many are losing money as price is in balance. For a good trade you need an imbalance of sellers or buyers and there is none. Therefore, the place for medium-term trading is still bad, as there is no good stop, except for 90K, but the price can go there again before the reversal easily and easily.
So personally I am now waiting for the impulse and volume, and while I am waiting I am favoring short-term trading from the boundaries of the sidewall, the last trade that was gained at the lower boundary of about 92K hangs in profit with the rest of the position, but it is so trading “intraday”.
Since we are working with probabilities, it is always worth considering several options, but it is important to understand the market mood and trend for trading.
This week there are many macro statistics on the US economy which may cause volatility, so it is worth looking at the calendar.
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Stay tuned.
