Well, we can't expect less from this almost closure of Uptober... the $BTC went from 66500 to 73600.. not bad👍🏻...
But as we know, markets move in waves, so I would expect a pullback or a range from BTC as well, this will look better on a timeframe of #4H (image 1), there it shows how the price action of bitcoin is retesting its previously surpassed high ranging from 71500-72150...
Of course, a negative slope ADX and the momentum indicator indicating a sell does not mean that the price will fall, it simply tells me that the indicators are giving me a hint that BTC's price will stop rising within the previously mentioned timeframe.
A range between 70500-72150 would be ideal, a small consolidation that reduces selling pressure to then continue its bullish path.
A key point for me is the area of 69600.. The price, given its bullish strength, shouldn't even touch that area (image 2 timeframe #1D ).
For my part, I am waiting to enter at $SOL , honestly, Solana has had a pretty good performance and I want to add it to my contracts, and since I reduced the contracts I had for precaution, I have enough liquidity to enter SOL.
In the third image, you will see SOL in 4H, I would like to see a pullback of this asset to the area of 159 so I can enter. Of course, if the price doesn't fall but instead creates a range between 170-177, it is also a signal to enter long..
Both assets are to go long or buy after a consolidation or pullback, going short is crazy because you run more risk of getting trapped in a bad trade.