BTCUSDT January 2020 Trading Plan!
Hi, traders! Let’s analyse BTC
in terms of market phases and wright a trading plan for next 2 weeks.
On a 2-4 hour timeframe, we have a clearly visualized balance with borders of 6500-7800.
Below 6600-6700 we have a clear responsive buyer activity. There were maximum purchases by
at those points.
At the top of this balance there is no such obvious sales activity, which means that with a high probability the big buyer is still in the market.
If the price breakout by the impulse candle this wide balance and holds above 7800 – it will be the beginning of the medium-term trend up to 9000-9100.
But while we are in a wide balance, the rules are always to trade from the borders to inside (opposite side), very well, if it will be after a false break.
Moving on. Inside this wide-volatility balance, we had several smaller balances, and some of them were already showed an impulsed phases.
Now we have 2 balances, 1 and 1 balance are being formed with borders 7085-7480. And we had a false breakout of the upper border, and after that the price fell to the opposite site of this balance. So the seller is also in the market and he is slightly pushing the price down now.
As a rule, before a good movement, a false break always occurs, so I suppose the price can easily go to 7050.
Breakdown and holding below 7050 is a fall road to 6700-6750.
Therefore, it is very important how the price will react at zone 7050-7100. If there is a false break, then they can quickly jump up, before you even have thinking about it. But If they break true this zone by the impulse, we will see a fall to 6700.
At the moment, I am inclined to the option of reducing to 7050-7070, then the false break and quickly jump.
Most importantly, react not to your expectations, but the current market conditions.