Investing in Crypto Market are inherently risky activities. Do your own research (DYOR) first. I'm here as a Crypto Analyst. I will also share Crypto News here.
Looking at the chart, I believe this is a supply zone where we could consider shorting. However, based on onchain data, I expect one more upside spike to clear out a lot of liquidations around $91K and $92K.
Trade Setup: 1.I'm going long from the current market price (CMP), with a take-profit target at $91K. 2.On the swing side, I'm looking to short at $91.5K and $92.2K.
In our last update, the market briefly filled the 50% wick to the upside before dropping to our lower target area. I didn't take any longs due to some issues, but that's totally fine.
What's next? We're heading into the weekend, where volume is typically low, and price moves are mainly for hunting liquidity on both sides. From my personal analysis of the chart, if the market reaches the 86.5K and 85.2K areas, those would be good zones for longs. The risk is a bit higher here, which is why I'd split entries into two positions. On the other hand, for shorts, the 89.7K and 90.6K areas look ideal if the market pushes up there.
Alhamdulillah I'm recovering from my health issues and I'm trying hard to bring as many good setups as I can! Please remember your brother in your prayers💟
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