BTC short-term analysis - An accumulation scenario
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As I can see, it is possible that a range is going to be formed for BTC prices: range's low would be $35000 and range high is $38000. It's important to keep in mind that deviations from this range would happen because the aggressivity of buyers or sellers when news come.
My short-term scenario of preference is an accumulation following Wyckoff method. The main moves are presented in chart. The final target when accumulation will be done is 42000s (Fib 0.618). A rejection would happen at that level (42000s).
Please refer also to my mid-term and long-term analyses for BTC in the link below. To summerize:
- Short-term: Bullish
- Mid-term: Bearish
- Long-term: Bullish
Trading in the range is quite challenging so take care and good luck!
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
Nota
Finally, after a week, BTC is now in the Supply area. I expect a rejection here, as planned:Nota
In my opinion, the rejection has been confirmed. I'm waiting for BTC at $34500- $35000 area for potential Longs.Nota
BTC retested the range high and is being rejected again. Here is my Short setupNota
My TPs are: TP1 = 36000 TP2 = 35300 TP3= 34970Trade chiuso manualmente
I close the Short and this analysis.I'll update with a new one.
Thanks for reading.
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