did you take the trade
$BTC
$BTC
Post
TraderLeumas
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THE PLAN: $BTC DAILY PROFILE ANALYSIS
Previous Day’s Recap
Yesterday was a balance day, as neither buyers nor sellers had a dominant effect on the market. The low was a poor low, while the high was also a poor high.
However, from the previous day’s market activity,
I observed that lower prices cut off activity, suggesting sellers were not interested in extending the range lower. The 8/11 prominent POC area was not revisited, and neither the high nor low took out the 8/11 weak high and excess low.
Price spent less time inside the 15/09 profile range, although it closed inside it. This also led me to consider a potentially bullish scenario.
Today’s Opening
In my current weekly analysis article, I highlighted today as a dominant-concern day due to the CPI news expected during the session.
The market opened outside the previous day’s value area high. During the first few hours, it one-timeframed lower and revisited the previous day’s POC area. the market is current trading below 15/09 poor low.
Profile Structure
The current market profile structure looks like a b-shaped profile. Both the high and low are good.
Current market confidence is high, as the POC is in line with price at the moment.
Market Generated Information
Previous Day MGI
8/11 poor high8/11 prominent POC9/11 poor high9/11 poor low
Current Developing Profile MGI
None.
Note: The market is still developing. As it develops, more market-generated information will be updated.
Possible Scenarios
Yesterday’s 3 wide low suggests that sellers are not willing to extend price lower.
Scenario 1: Bullish
If the current excess low holds, I expect buyers to extend price higher.
Bullish target areas:
Reclaim the 18/09 low.If price accepts and builds value inside the 18/09 range, the next target is the 15/09 high.If the 18/09 low is rejected, expect price to rotate back inside the 16/09 value area.
Scenario 2: Bearish
If the current excess high holds, I expect the market to trade back below the previous day’s value area low.
Bearish target areas:
Trade below the previous day’s value area low.If price accepts below it, take out the previous day’s low and reverse.If price accepts below the previous day’s low, take out last week’s low.
Yesterday was a balance day, as neither buyers nor sellers had a dominant effect on the market. The low was a poor low, while the high was also a poor high.
However, from the previous day’s market activity,
I observed that lower prices cut off activity, suggesting sellers were not interested in extending the range lower. The 8/11 prominent POC area was not revisited, and neither the high nor low took out the 8/11 weak high and excess low.
Price spent less time inside the 15/09 profile range, although it closed inside it. This also led me to consider a potentially bullish scenario.
Today’s Opening
In my current weekly analysis article, I highlighted today as a dominant-concern day due to the CPI news expected during the session.
The market opened outside the previous day’s value area high. During the first few hours, it one-timeframed lower and revisited the previous day’s POC area. the market is current trading below 15/09 poor low.
Profile Structure
The current market profile structure looks like a b-shaped profile. Both the high and low are good.
Current market confidence is high, as the POC is in line with price at the moment.
Market Generated Information
Previous Day MGI
8/11 poor high8/11 prominent POC9/11 poor high9/11 poor low
Current Developing Profile MGI
None.
Note: The market is still developing. As it develops, more market-generated information will be updated.
Possible Scenarios
Yesterday’s 3 wide low suggests that sellers are not willing to extend price lower.
Scenario 1: Bullish
If the current excess low holds, I expect buyers to extend price higher.
Bullish target areas:
Reclaim the 18/09 low.If price accepts and builds value inside the 18/09 range, the next target is the 15/09 high.If the 18/09 low is rejected, expect price to rotate back inside the 16/09 value area.
Scenario 2: Bearish
If the current excess high holds, I expect the market to trade back below the previous day’s value area low.
Bearish target areas:
Trade below the previous day’s value area low.If price accepts below it, take out the previous day’s low and reverse.If price accepts below the previous day’s low, take out last week’s low.