Bitcoin probing back toward the 59K low after failing to reclaim 70K. The move, likely a response to the "risk off" reaction to Friday's tariff announcement, showing clear evidence of bearish continuation. With the State Of The Union speech this week, Bitcoin happens to be pushing into a high probability reversal location (weekly order block). While short term strategies favor shorts, it is important to keep this broader context in mind and consider the bullish reversal possibility rather than "expect" the bear to continue simply because it looks "obvious".
The level is key, but its the price behavior that transpires there that should prompt risk taking or risk mitigating. There are also many other economic events this week that can add to the bear or bull argument like numerous speeches given by Fed governors. You have to be OPEN to both sides and continuously seek confirmation from the market.
State of the Union Address: Tuesday, Feb 24 at 9:00 PM EST. Watch closely for any updates on the Clarity Act, as a push for this regulatory framework could drastically shift the market structure and institutional sentiment
Pin bars or bullish engulfing candles especially on this time frame 4H will offer a high probability, and attractive reward/risk setup with a profit objective at LEAST around the 70K area. Risk can be defined by the 60 to 62K low area. Risking 2 or 3K points to make at least 4K or more is worthwhile all while keeping your account risk no greater than 1%. IF you are unsure in this environment, stay out until we get a new bullish structure (break above 70K).
IF price closes below 59K, that opens the 50K test possibility. Again this is NOT about "thinking" where the market will go, its about letting the price action shape probabilities while simultaneously adjusting your own expectations. Also since I believe Bitcoin is now in a broader Wave 2, it needs to establish a range low and consolidate for a substantial period of time to match the magnitude of this wave (months/years). While many will call this a "bear" market, technically it is likely to be a very broad range (40 to 50K low 80K high for example). Keep that in mind for dollar cost averaging and swing trade opportunities. If you want to see what this looks like, look at a weekly or monthly Gold chart.
Thank you for considering my analysis and perspective.
The level is key, but its the price behavior that transpires there that should prompt risk taking or risk mitigating. There are also many other economic events this week that can add to the bear or bull argument like numerous speeches given by Fed governors. You have to be OPEN to both sides and continuously seek confirmation from the market.
State of the Union Address: Tuesday, Feb 24 at 9:00 PM EST. Watch closely for any updates on the Clarity Act, as a push for this regulatory framework could drastically shift the market structure and institutional sentiment
Pin bars or bullish engulfing candles especially on this time frame 4H will offer a high probability, and attractive reward/risk setup with a profit objective at LEAST around the 70K area. Risk can be defined by the 60 to 62K low area. Risking 2 or 3K points to make at least 4K or more is worthwhile all while keeping your account risk no greater than 1%. IF you are unsure in this environment, stay out until we get a new bullish structure (break above 70K).
IF price closes below 59K, that opens the 50K test possibility. Again this is NOT about "thinking" where the market will go, its about letting the price action shape probabilities while simultaneously adjusting your own expectations. Also since I believe Bitcoin is now in a broader Wave 2, it needs to establish a range low and consolidate for a substantial period of time to match the magnitude of this wave (months/years). While many will call this a "bear" market, technically it is likely to be a very broad range (40 to 50K low 80K high for example). Keep that in mind for dollar cost averaging and swing trade opportunities. If you want to see what this looks like, look at a weekly or monthly Gold chart.
Thank you for considering my analysis and perspective.
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Trade Kraken: invite.kraken.com/JDNW/x2eo1856
Telegram: t.me/+GdF6AmnrRTo3YzRk
My Daily Updates: youtube.com/@marcsmarket
Trade Scanner Pro FREE: bit.ly/TSCPRO
Trade Scanner Pro Tutorial: youtu.be/fdFLhLnqM9A
Telegram: t.me/+GdF6AmnrRTo3YzRk
My Daily Updates: youtube.com/@marcsmarket
Trade Scanner Pro FREE: bit.ly/TSCPRO
Trade Scanner Pro Tutorial: youtu.be/fdFLhLnqM9A
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน