Hello everyone, going to post some updates on BTC, sorry for being late, been busy a bit.
First let's start with low-time frame chart.
We currently built a range. Price found a support at 30m bullish block (also confluent with 0.618 Fib retracement). If bulls manage to move from here, this will be a higher low.
Althought, while price trading in the range, you should expect some fake outs, stop hunts and oscillation between range high and range low.
Couple of possible scenarios I have put on the chart: we can bounce from here and get rejected off s/r flip at ~$3900 (look for short in that case), or if we successfully climb and close above that level, go long the retest. Alternatively, we can fail this current support and nuke down this block.
Also, keep in mind the volume. It should increase as price goes up and decrease during pullbacks if its bullish, and the opposite for bears - volume should be picking up when price going down and decrease during bounces. So far, in this particular last move down, volume had bearish signature (notice the expansion of selling volume), so if price bounces here up and volume will be dropping, look for shorts near that s/r (~$3900)
Note the volatility in current prices, moves are high %wise. A $200 is 5%, so plan your position size accordingly. When scalping, I prefer to use 0.5-1% (max) risk per trade, meaning that if I get stopped out, I lose only 0,5 to 1% of my trading balance. Also, if you are daytrading, you should have your daily risk. There is some money to be made with this great volatility, however losses can be significant too, especially if they add up. Do not underestimate this. If you don't have a lot of spare time to monitor this or not have enough experience, I'd advise you to look for swing trades (preferably non-leverage), I will share my high time frame macro charts now so you can make your plan. IMO a great time to buy spot is coming pretty soon. https://www.tradingview.com/x/IHWAgEns/https://www.tradingview.com/x/IHWAgEns/