#BTC - Of course, I want to trade short trends within the day, week, and month, but it's not that simple and there are nuances. Yes, we have a shelf at $74,450, and the problem with it is that everyone is watching it, so there will be short positions until it is taken out and long positions after it is taken out. Therefore, for me, this shelf will definitely not serve as a target for shorts; I will aim lower to around $66,800 ( Monthly imbalance).
🤩 Now, it's time to decide which direction is better to trade right now and which zones to prioritize.
- Daily FVG. We haven't tested it yet; it is directly above the liquidity pool. In an aggressive short trend, the validity of such imbalances is often assessed by the first test. If after the first test, we confirm a short on lower timeframes, then the validity is confirmed. If we overshoot the first test, it makes more sense to view this imbalance as invalid and work on the long side. The target for the long is $84,692. So, I will monitor the first test of the daily FVG and then decide on my positions.
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#CryptoMarketPullback The first Monday of the month, it's time to return to the market.
#BTC - Of course, I want to trade short trends within the day, week, and month, but it's not that simple and there are nuances. Yes, we have a shelf at $74,450, and the problem with it is that everyone is watching it, so there will be short positions until it is taken out and long positions after it is taken out. Therefore, for me, this shelf will definitely not serve as a target for shorts; I will aim lower to around $66,800 ( Monthly imbalance).
🤩 Now, it's time to decide which direction is better to trade right now and which zones to prioritize.
- Daily FVG. We haven't tested it yet; it is directly above the liquidity pool. In an aggressive short trend, the validity of such imbalances is often assessed by the first test. If after the first test, we confirm a short on lower timeframes, then the validity is confirmed. If we overshoot the first test, it makes more sense to view this imbalance as invalid and work on the long side. The target for the long is $84,692. So, I will monitor the first test of the daily FVG and then decide on my positions.