Morning crew!
BTC doing what we expected from this weeks update after just front running that demand zone.
We knew there was liquidity at this level and the buy up has a little more promising...HOWEVER
We're still in a descending structure and until we make a HH above that 40 zone, we'll play the range.
Looking at our 4hr indicators we have some room to move, so some upside potential is looking on the cards.
As we approach 40k and if we break this descending structure, I would be VERY cautious above opening any longs at that area until we get confirmation of a range breakout.
Some super bullish fundamental news for BTC this week, so the catalyst is certainly there for a move up!
BTC doing what we expected from this weeks update after just front running that demand zone.
We knew there was liquidity at this level and the buy up has a little more promising...HOWEVER
We're still in a descending structure and until we make a HH above that 40 zone, we'll play the range.
Looking at our 4hr indicators we have some room to move, so some upside potential is looking on the cards.
As we approach 40k and if we break this descending structure, I would be VERY cautious above opening any longs at that area until we get confirmation of a range breakout.
Some super bullish fundamental news for BTC this week, so the catalyst is certainly there for a move up!