Most retail traders are going to lose money in the next 48 hours because they don’t understand the difference between a trend reversal and a liquidity trap. If you’re the type to panic at red liquidation candles or buy the top out of pure FOMO, this analysis probably isn’t for you.
The market for $BTC is showing an advanced accumulation pattern, consolidating firmly above $86,000 after closing September with a positive return. Although the price saw a slight rejection when attempting to reclaim the yearly open at $87,570, order flow analysis shows a solid institutional support block between $82,500 and $83,700. The recent volatility caused by geopolitical tensions in the Strait of Hormuz and anticipation surrounding the Fed minutes only served to clear excessive leverage from the futures market. Technically, if $BTC manages to post a decisive daily close above the $86,700 resistance, the market structure will clear the way to seek a new bullish range, with a direct target of $93,700 this month.
For this reason, I’m keeping my staggered buy order active at the lower boundary of the current range, and I’ve adjusted my risk management strategy with a tight stop loss below the weekly low. I’m not looking to chase the price, but to position myself on the side of the majority liquidity before the breakout occurs.
Do you think $BTC will manage to break through the resistance of this range this week, or are we looking at a much longer consolidation than expected? Let me know what you think in the comments below.
#Bitcoin #Crypto #Trading
Follow me for more trading content.
The market for $BTC is showing an advanced accumulation pattern, consolidating firmly above $86,000 after closing September with a positive return. Although the price saw a slight rejection when attempting to reclaim the yearly open at $87,570, order flow analysis shows a solid institutional support block between $82,500 and $83,700. The recent volatility caused by geopolitical tensions in the Strait of Hormuz and anticipation surrounding the Fed minutes only served to clear excessive leverage from the futures market. Technically, if $BTC manages to post a decisive daily close above the $86,700 resistance, the market structure will clear the way to seek a new bullish range, with a direct target of $93,700 this month.
For this reason, I’m keeping my staggered buy order active at the lower boundary of the current range, and I’ve adjusted my risk management strategy with a tight stop loss below the weekly low. I’m not looking to chase the price, but to position myself on the side of the majority liquidity before the breakout occurs.
Do you think $BTC will manage to break through the resistance of this range this week, or are we looking at a much longer consolidation than expected? Let me know what you think in the comments below.
#Bitcoin #Crypto #Trading
Follow me for more trading content.