Bitcoin Price Update
1. Previous Month's (January) High Remains a very important retest level. This level was retested as support after breakout before the push to $53,000.
2. Range Low on LTF has been swept right now. Let's see if this liquidity is enough to push price further. Range looks ready to break with coinbase spot books being ask heavy right now.
3. Confluence of fib zone makes the $49,000 level stronger.
4. FRVP of move up shows $47,000 as the VaH (this is where a lot of BTC changed hands before $50,000 breakout)
This is the last bear/bull line. If we break down from this level then we will be bearish on HTF and likely go for major lows.
However, $48-49,000 retest will hold and we continue the Pump.
@profit8lue Trading isn’t about being right or wrong brother. It’s just probabilities. If you had a coin that had a 80% chance to land on heads, it’s never wrong to bet on heads. Even when it lands tails. Just need to manage risk. Your good at finding high probability setups, keep it up!