📊 Technical Analysis
▪️BTC/USDT Timeframe D1
The bears have increased selling pressure, the D1 candle yesterday had a wide range, however, it has not broken the support and the inside bar price action model, so the wave structure is still in accumulation.
As we move into today, selling pressure continues to appear, at one point the bears pushed the price down to $68,830 but quickly bounced back. Prices are expected to fluctuate around the $68k - $70k zone in the coming days, both accumulating and waiting for election news. If Mr. Trump wins, we are likely to see a new ATH.
Overall, the wave structure of #BTC still clearly shows sideways action at the peak, but due to the creation of higher highs and higher lows, it will lean towards price increase, the main plan is to wait to buy at the support zone below.
▪️BTC/USDT Timeframe H4
This is the profit-taking moment for many holders after enduring losses for more than half a year. It is clearly shown on the H4 TF when there are continuously appearing strong selling red H4 candles along with volume starting to increase while #BTC has temporarily not broken the ATH.
Buying power is weakening, but remember the mountain climbing analogy; we can't climb straight from the base to the peak, there will always be breaks to regain strength. I still place my trust + expectations on a new ATH this year, especially in this November.
This period only requires #BTC to go sideways for Altcoins to soar. The flow of money prioritizes top coins + layer 1 first, in my opinion, this is the right time for those who specialize in spot trading.
As for the futures plan, there are currently no changes. Running a long position on #BTC and waiting for a short plan at entry $73.3xx - $73.7xx, stop loss $74.888
▪️Key levels to watch: 65400 - 69500 - 70000 - 73777
* The above is entirely a personal opinion, not investment advice!
#Vietnamcryptotrading #Write2Earn!
$BTC