BitcoinLong
OUTLOOK ON BTCUSD (21-08-2022)
BTCUSD formed a range at 22.8k after which it dropped giving a supply zone at 22.8k and forming imbalance between 22.8k and 22k.
It then proceeded to form series of lower highs and lower lows. Break market structure in each case
It formed an equal low ( although this is a lower low from other data providers )
And eventually changed character to the upside forming an ascending Channel.
Within the channel, price changed character, mitigates the LTF supply zone.
The theory is, Price will break below channel on it's way to mitigate H1 TF demand zone.
Entry is at Demand zone and Stop is below the last lower low (below demand)
And exit is the initial supply that caused Imbalance.
It then proceeded to form series of lower highs and lower lows. Break market structure in each case
It formed an equal low ( although this is a lower low from other data providers )
And eventually changed character to the upside forming an ascending Channel.
Within the channel, price changed character, mitigates the LTF supply zone.
The theory is, Price will break below channel on it's way to mitigate H1 TF demand zone.
Entry is at Demand zone and Stop is below the last lower low (below demand)
And exit is the initial supply that caused Imbalance.
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