NOTE: This is only meant for a day trade today.
We have a strong confluence of liquidity right below 36,000 for Bitcoin. It is a worthy place to look for a quick day trade long.
We have multiple confluences of liquidity leading to this reversal:
1) Trendline break
2) Price taking out at least one ICT killzone low
3) VWAP broken/touched of a significant level (in this case monthly VWAP)
4) Volume Profile showing either a low volume, or in our case a high volume node near our area of interest.
5) Trend Based fib extension of most recent swings indicate a 1.618 fib right inside of our area.
Again, the concept of liquidity is easy. It's where the ORDERS are likely to be. It's where retail traders make bad choices...
Don't be a retail trader. Recognize where retail gets trapped, and use it for your gain.
Let's talk about take profit for this trade:
I see price likely wanting to take out London session high near 36700. This is a 5R trade, stop loss below 35800 near 35700.
Good luck
We have a strong confluence of liquidity right below 36,000 for Bitcoin. It is a worthy place to look for a quick day trade long.
We have multiple confluences of liquidity leading to this reversal:
1) Trendline break
2) Price taking out at least one ICT killzone low
3) VWAP broken/touched of a significant level (in this case monthly VWAP)
4) Volume Profile showing either a low volume, or in our case a high volume node near our area of interest.
5) Trend Based fib extension of most recent swings indicate a 1.618 fib right inside of our area.
Again, the concept of liquidity is easy. It's where the ORDERS are likely to be. It's where retail traders make bad choices...
Don't be a retail trader. Recognize where retail gets trapped, and use it for your gain.
Let's talk about take profit for this trade:
I see price likely wanting to take out London session high near 36700. This is a 5R trade, stop loss below 35800 near 35700.
Good luck