$BTC is showing an interesting market structure with an Ellipse FMFR setup.
Price has made a strong bullish move and is now approaching an important supply area along with a potential L Sweep level.
The marked zone is the key area for this setup. I am waiting for a clear bearish price action pattern before considering a short entry.
The structure and zone alone are not enough to enter a trade. Proper confirmation is required before taking any position.
If price respects the marked supply area and bearish confirmation appears, the setup may support a potential downside move.
#Bitcoin❗
Price has made a strong bullish move and is now approaching an important supply area along with a potential L Sweep level.
The marked zone is the key area for this setup. I am waiting for a clear bearish price action pattern before considering a short entry.
The structure and zone alone are not enough to enter a trade. Proper confirmation is required before taking any position.
If price respects the marked supply area and bearish confirmation appears, the setup may support a potential downside move.
#Bitcoin❗