Bitcoin weekly plan

2023年5月15日

In last trading idea, we were looking at a continuation of the short scenario with the 27, 26 and 25k marks, the price reached 25750 on the futures, meeting almost all targets from past trading ideas, and drawing a pin bar on the hourly timeframe. This is a reversal pattern and it could be traded long locally, who had time to congratulate, I honestly did not have time.
The price is correcting right now after the fall and came to the strong resistance zone, the strong level of 28000, 28300, 28850 and we might see a test of this zone, or a false breakthrough and high probability of sideways movement or another wave of decline to the 26 thousand zone.

From the point of view of middle-term trading, I do not see a good entrance point yet, because it is silly to buy directly to the resistance, and this week I would like to observe how the price behaves under that resistance area, and if there is an entry set-up, I will consider going short, and if the price breaks through that zone and goes to 29 000, then it will be possible to look at long position, but it is unlikely. Maybe by the middle of the week there will be a clearer picture on the chart, and we will be able to update the situation.


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Good luck and profit to all.