$BTC it is clearly visible that SSL in the area around 62,300 – 62,500 has already been taken (swept) with the formation of a fairly sharp lower wick (tail).
Before moving up toward 65,000+, price often performs a retest back to the 62,800–63,000 area
If this structure is valid as a reversal, here is the mapping of the upside targets
TP 1 64,200
TP 2 64,800
TP 3 65,800
make sure you place the stop-loss slightly below the lowest SSL wick (around 62,000 – 62,100) to keep the Risk to Reward Ratio optimal!
Before moving up toward 65,000+, price often performs a retest back to the 62,800–63,000 area
If this structure is valid as a reversal, here is the mapping of the upside targets
TP 1 64,200
TP 2 64,800
TP 3 65,800
make sure you place the stop-loss slightly below the lowest SSL wick (around 62,000 – 62,100) to keep the Risk to Reward Ratio optimal!
