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CRYPTO MECHANIC
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CRYPTO MECHANIC
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BTC rejecting from $93K isnt really good. If you’re planning to go long i think it would be better once price breaks this zone with volume. As long as it’s below this zone Price can rotate lower again. current LTF support is sitting under/around $90k if we see a pullback.
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A higher low only gets confirmed after price creates a higher high. What you’re seeing right now isn’t a confirmed HL it’s just a structure within a larger structure. These micro-structures are useful, but mainly for trading lower timeframes. Also remember, this is just one trading strategy. When price behaves the way you highlighted, that’s exactly where fake-outs come into play something I’ve talked about many times. Markets love to trap early breakout traders before showing the real move. When you’re trading, it’s always better to combine multiple styles or confluences. It gives you a clearer picture of what the market is trying to communicate and keeps you flexible. The moment the market gives new information, your bias should be able to shift with it and that’s what separates reactive traders from proactive ones.
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$BTC is back at the $93k zone, from where we previously had three dives down. I want to see price continue to show strength and move away from this zone.
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I think $98k–100k is a major high-timeframe level. Price needs to reclaim that before we can aim for bigger targets this is where the weekly flipped. As long as price remains below this zone, we can just continue taking level to level trades like we’ve been doing for the last two weeks.
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No trend lasts forever and this is where people lose most amount of their money. If people are bearish and the trend shifts to bullish they do not accept it and keep shorting the market. And if people are bullish and the trend shifts they don't accept it and keep buying the dips. Lets discuss when market shifts a Bullish Trend when the market breaks a bullish trend you will see it will break below the higher low. Once price does that you can shift your bias from being bullish and wait unless if you get another bullish confirmation. Some people like to take profits on their buys as trend breaks or some people like to open shorts depending on the type of traders they are and depending on how they want to trade. Picture 2 is a live example of price breaking a trend. It shows the most recent Bitcoin price action when it broke its bullish trend and notice how Bitcoin has continued to drop ever since. This is a really good strategy you can use as a trend trader and as i always say, Trading is easy when you trade where the trend is.
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