BTC Weekly:
Weekly price: Currently trending downwards, likely aiming for weekly external Liquidity.
Potential sell signal: A close below the previous week's candle body could indicate a strong selling opportunity. However, this is contingent on the close.
BTC Daily:
Price action: Continuing a downward trend from the weekly timeframe.
Potential targets: The next likely targets are External Range Liquidity (ERL).
Potential entry point: A Daily Orderblock aligned with Weekly (under progress) Change in state of Delivery (CSD) could provide a possible entry point, but lower timeframe confirmation is essential.
BTC Entry Suggestion:
Low-risk entry: Consider a small stop-loss and a sell entry based on either the Daily OB or Weekly CSD.
This approach aligns with the current market flow.
Disclaimer:
Not financial advice: This analysis is for informational purposes only and does not constitute financial advice.
Personal judgment: Ultimately, investment decisions should be based on individual research and risk tolerance.
