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Let’s move on to Bitcoin analysis. Yesterday, Bitcoin continued ranging. Let’s see what triggers the market gives us today.
⌛️ 1-hour timeframe
Yesterday, after Bitcoin’s volume dropped to the lowest possible level, the market made a downward move and faked around the 110473 zone, and now it’s back inside the box again.
📊 The top of the box is at the 111654 zone, and if it breaks, the price can move toward the 113233 zone.
✔️ I still believe volume is very important, and as long as no significant volume comes in, the market won’t move. Even if it does, like yesterday’s drop, the chance of it being fake is very low.
📉 For a short position, we can enter with the 110473 trigger, but in my opinion, considering the higher cycles, it’s still not logical to open shorts. However, if buying volume enters, we can enter a long position with the long triggers we have.
🔔 In market conditions like this, when the volume is so low, one thing that really helps avoid unnecessary stop-losses is to avoid opening positions for a while and miss the first leg of the next price move.
⚡️ In this case, it’s true that we miss one leg that could have given us a risk-to-reward opportunity, but on the other hand, it prevents us from getting stopped out inside the ranging box. It also keeps our mind free from open trades so we can open new positions in the next legs, which are more reliable and have a higher win rate.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you’re not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
