Bitcoin Daily Outlook
*We should continue higher from here, looking to go long from any pullbacks as long as we can maintain good structure above $40,500.*
Daily:
Bitcoin had a massive recovery today liquidating buyers and trigger shorts before reversing 2,500 pips on the day. We are now trading above the major support level of $40,500 once again. This is the kind of structure and price action we want to see and I will be looking to go long from here. Bitcoin will likely continue being volatile this week so it’s important to wait for the right opportunities before trading. I firmly believe we could see $46,000 soon if we can maintain this price action. I will be monitoring the intraday for setups.
Intraday:
The intraday was very volatile. Having about 3,500 pips worth of movement on the day. We saw a dump early in the morning followed by a very strong recovery while still maintaining structure at our original entry of $39,750 (on the daily). I will wait to see some more structure being built before looking for potential long setups on the intraday.
Daily:
Bitcoin had a massive recovery today liquidating buyers and trigger shorts before reversing 2,500 pips on the day. We are now trading above the major support level of $40,500 once again. This is the kind of structure and price action we want to see and I will be looking to go long from here. Bitcoin will likely continue being volatile this week so it’s important to wait for the right opportunities before trading. I firmly believe we could see $46,000 soon if we can maintain this price action. I will be monitoring the intraday for setups.
Intraday:
The intraday was very volatile. Having about 3,500 pips worth of movement on the day. We saw a dump early in the morning followed by a very strong recovery while still maintaining structure at our original entry of $39,750 (on the daily). I will wait to see some more structure being built before looking for potential long setups on the intraday.
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