In my post yesterday, I wrote to you about the 70.3k level, the price went to the liquidity zone right there and then was sold. After this stage, the 66.7k level I see on the map should be careful, those with long positions should act carefully. #Bitcoin #Binance #Write2Earn!
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-Weekly BTC Update-
We have been moving within the range shown in the picture below for about 3 months. The price continues to hang in the middle of the range these days. Non-Farm Employment data, which is an important data, will come on Friday this week and a volatile market will be waiting for us. Now, the questions we need to ask ourselves here are:
-Which scenario is more likely next?
-From here, is the journey back to range high levels or is the journey back to range low?
Personally, I cannot see a very obvious situation in the liquidity map we see in the 2nd picture. What catches my eye on the 1-month and 1-week liquidity map is only the 70.3k level.
In the 4th picture I posted, there is a clear upward trend in the order books, which is very nice. We have strong support at mid range + 1D 50EMA. If we lose here, we will fall back to the lowest levels. But in my opinion, we are more likely to reach range high.
When we look at the last picture, I tried to show the most reasonable scenario in my mind. Why do I think this way? First of all, we should not forget that the price always needs liquidity. That's why I think if the price is going to go up, people will first activate their stops below and target the liquidity zones above with the necessary liquidity. I will follow this scenario until around 65.8k and in case of violation, we will determine a new road map. $BTC #Bitcoin #Binance #BinanceHerYerde
We have been moving within the range shown in the picture below for about 3 months. The price continues to hang in the middle of the range these days. Non-Farm Employment data, which is an important data, will come on Friday this week and a volatile market will be waiting for us. Now, the questions we need to ask ourselves here are:
-Which scenario is more likely next?
-From here, is the journey back to range high levels or is the journey back to range low?
Personally, I cannot see a very obvious situation in the liquidity map we see in the 2nd picture. What catches my eye on the 1-month and 1-week liquidity map is only the 70.3k level.
In the 4th picture I posted, there is a clear upward trend in the order books, which is very nice. We have strong support at mid range + 1D 50EMA. If we lose here, we will fall back to the lowest levels. But in my opinion, we are more likely to reach range high.
When we look at the last picture, I tried to show the most reasonable scenario in my mind. Why do I think this way? First of all, we should not forget that the price always needs liquidity. That's why I think if the price is going to go up, people will first activate their stops below and target the liquidity zones above with the necessary liquidity. I will follow this scenario until around 65.8k and in case of violation, we will determine a new road map. $BTC #Bitcoin #Binance #BinanceHerYerde
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