$BTC Profile Recap
Today the market showed low confidence, and a rotational day was expected which is exactly what played out. The bulls are still very active on the higher timeframes, but they remain weak on the lower timeframes.
The current high is a poor high, while the low is a good low because of its excess. The POC migrated with price twice, which shows that both short-term buyers and sellers were active today and neither side was willing to let the other take full control. The current POC area looks prominent, but I’ll wait to see where the market closes.
I entered two positions today. The first was a long during the early Asian session, but it got stopped out. The second was a short from 87.2k with my stop loss at 87.6k, but that also got stopped out. I think the reason I got stopped out was early entries. The idea was spot on, but I need to do better with my execution.
The major news tomorrow is the FOMC meeting. Today’s close will determine how I view the market tomorrow. I don’t pay much attention to the news itself; I pay attention to how market participants react to it.
Today the market showed low confidence, and a rotational day was expected which is exactly what played out. The bulls are still very active on the higher timeframes, but they remain weak on the lower timeframes.
The current high is a poor high, while the low is a good low because of its excess. The POC migrated with price twice, which shows that both short-term buyers and sellers were active today and neither side was willing to let the other take full control. The current POC area looks prominent, but I’ll wait to see where the market closes.
I entered two positions today. The first was a long during the early Asian session, but it got stopped out. The second was a short from 87.2k with my stop loss at 87.6k, but that also got stopped out. I think the reason I got stopped out was early entries. The idea was spot on, but I need to do better with my execution.
The major news tomorrow is the FOMC meeting. Today’s close will determine how I view the market tomorrow. I don’t pay much attention to the news itself; I pay attention to how market participants react to it.
