Hi everyone! Let’s dive into today's Bitcoin analysis.
We will do a comprehensive review and deep dive into the monthly and weekly charts tomorrow. Looking at yesterday's daily candle, Bitcoin experienced a rejection from the zone it has been battling since Friday. The daily candle closed with an upper shadow, showing that buyers attempted to push the price higher but failed to even reach Friday's peak. Sellers then stepped in, driving the price back down, resulting in a small red body close.
Generally speaking, I don't give much weight to Saturday candles because volume typically dries up due to traditional market closures—unless it happens to be one of those rare high-volume Saturdays. However, I do pay closer attention to Sunday closes, as global markets gradually begin to reopen toward the end of the day.
4-Hour Timeframe
Dropping down to the 4-hour chart, there isn't much to say other than a series of consecutive range candles consolidating right beneath the $64,396.5 resistance.
Execution & Entry Triggers
Since yesterday, Bitcoin has carved out a tight 1-hour trading range (box) near the $64,396.5 resistance, with the floor of this range sitting at $63,753.
Long Scenario: Just like previous days, if price manages to close a candle above $64,396.5, I will open a long position. If the market structure remains unchanged from its current state, I will place my stop loss right below the floor of this 1-hour box.
Short Scenario: For shorts, we have two execution paths today—one aggressive (risky) and one conservative (safer). The aggressive entry is to trigger a short position if price breaks and closes a candle below $63,753, placing the stop loss just above the ceiling of the box. Alternatively, the safer approach is to wait for this 1-hour range to break, monitor how price reacts to the major $61,755 support level, and then look for short setups there.
For all of these entry scenarios, keep in mind that we absolutely need volume confirmation on the breakout. Given the current global landscape and how heavily the market has been whipsawing due to sudden tweets or breaking news, it is highly recommended to lower your overall trade risk these days.
I hope you enjoyed today's update and find it useful. As always, make sure to prioritize your risk and money management!
We will do a comprehensive review and deep dive into the monthly and weekly charts tomorrow. Looking at yesterday's daily candle, Bitcoin experienced a rejection from the zone it has been battling since Friday. The daily candle closed with an upper shadow, showing that buyers attempted to push the price higher but failed to even reach Friday's peak. Sellers then stepped in, driving the price back down, resulting in a small red body close.
Generally speaking, I don't give much weight to Saturday candles because volume typically dries up due to traditional market closures—unless it happens to be one of those rare high-volume Saturdays. However, I do pay closer attention to Sunday closes, as global markets gradually begin to reopen toward the end of the day.
4-Hour Timeframe
Dropping down to the 4-hour chart, there isn't much to say other than a series of consecutive range candles consolidating right beneath the $64,396.5 resistance.
Execution & Entry Triggers
Since yesterday, Bitcoin has carved out a tight 1-hour trading range (box) near the $64,396.5 resistance, with the floor of this range sitting at $63,753.
Long Scenario: Just like previous days, if price manages to close a candle above $64,396.5, I will open a long position. If the market structure remains unchanged from its current state, I will place my stop loss right below the floor of this 1-hour box.
Short Scenario: For shorts, we have two execution paths today—one aggressive (risky) and one conservative (safer). The aggressive entry is to trigger a short position if price breaks and closes a candle below $63,753, placing the stop loss just above the ceiling of the box. Alternatively, the safer approach is to wait for this 1-hour range to break, monitor how price reacts to the major $61,755 support level, and then look for short setups there.
For all of these entry scenarios, keep in mind that we absolutely need volume confirmation on the breakout. Given the current global landscape and how heavily the market has been whipsawing due to sudden tweets or breaking news, it is highly recommended to lower your overall trade risk these days.
I hope you enjoyed today's update and find it useful. As always, make sure to prioritize your risk and money management!
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.