Hey guys. This is a weekly review of #bitcoin At the beginn | Kirill Gaitan l PROFIT_PILOT na Binance Square

Kirill Gaitan l PROFIT_PILOT

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Hey guys.
This is a weekly review of #bitcoin 
At the beginning of last week the price was trading around 63K and I was saying that buying into resistance is a bad idea and can only be done after breaking 64K, I also warned that the price might go below 60K to test stop liquidity. What was done, the price at the moment went below 59K managed to trade a local short, and after the price came back above 60.5K opened a local long, which made updates. But this is all intraday trading and does not affect the medium term trend.
I warned in previous reviews that there is a high probability that the price will be in the range of 60-66K for some time and form the so-called “comb” or sideways. 
At the moment, the price has again approached the resistance, where there is a partial unloading of long positions, which shows the cluster analysis and open interest, and technical indicators show overbought, so there may be local corrections. 
But I do not exclude that the price can be thrown even higher, making another wave of growth to the 67 K zone.
But I have unloaded some of the local Long in this zone, as the r/r ratio is no longer attractive enough to continue to sit with full risk. The strong local support that should not be broken is 61.5K.
Therefore, at the moment I continue to work from purchases, reducing the position as it grows.

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Kirill Gaitan l PROFIT_PILOT

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Hey guys.
This is a weekly review of bitcoin.
Last time we talked about some signs of weakness of the instrument, such as technical breakdown of the uptrend, as well as bearish momentum in the market, which has a chance to continue and the sign that the bears have loosened their grip will be the return of the price above 65.5K, which was not done, and marked levels for attention 62k and 60k. The trigger for the continuation of the decline was the escalation in the Middle East, and the price tested 60K, this movement I accompanied and wrote that I opened Long at 60.8K, as I recorded some signs of weakening pressure of sellers and closing of shorts, as a result I managed to earn on the rebound of the instrument, which I closed around 63K as the price hit a strong cluster zone. The situation was read with you quite accurately and I hope it helped to make money or save yourself from losses.
At the moment the price has tested the 64K zone, where the last fall started and where large volumes took place, which can be seen for example in the volume profile,

If the price manages to break through this zone and consolidate above 64-64.5K, we may return to 66-67K zone.
What can be done now? It is difficult to say, as it is not a good idea to buy into resistance, and there is no set-up for selling. Therefore, for short-term trading, we can look for local trades, and for medium-term I will wait for the breakdown of the 64K zone to buy, or if the price will draw signs of weakness, we can work with some shorts.
Can the price go below 60K? I wouldn't be surprised as there is a huge stop liquidity there now and it can be followed by some shorts. On the liquidation map there are important areas to pay attention to, 59.5K and 65.2K, the break of which may cause sharp moves. As I said earlier, the price will be in the 60-66K range for some time.
This week macro statistics to watch out for and may cause volatility in the market:
10.10- revised CPI data, unemployment benefits.
11.10- PPI.
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