$BTC Bitcoin is bullish, bullish on the lower timeframes. The reason is that it surged hard earlier, and it moved before gold did.
At the same time, this is a good key level, but we need to wait for a pullback. It’s currently making a complex pullback, which could turn into consolidation, so try to buy as low as possible.
But don’t buy in right now—wait for a pattern to form and for a signal.
The only downside is that this is the previous high on the 4-hour structure, and it’s already 21 above the previous-high level.
So this is only a 5-minute trade, betting that it will consolidate. After all, it was so strong earlier. If it plunges straight down, exit decisively.
Watch the previous high, and note that the 4-hour trend is down.
Don’t overstay the trade.
Ideally, take profit at the previous high and move your stop to breakeven, or close the whole position.
At the same time, this is a good key level, but we need to wait for a pullback. It’s currently making a complex pullback, which could turn into consolidation, so try to buy as low as possible.
But don’t buy in right now—wait for a pattern to form and for a signal.
The only downside is that this is the previous high on the 4-hour structure, and it’s already 21 above the previous-high level.
So this is only a 5-minute trade, betting that it will consolidate. After all, it was so strong earlier. If it plunges straight down, exit decisively.
Watch the previous high, and note that the 4-hour trend is down.
Don’t overstay the trade.
Ideally, take profit at the previous high and move your stop to breakeven, or close the whole position.