There are two key levels due to the bearish flag and we will monitor: ➡️ 92k and 96k.
The price action near these zones may trigger a potential reversal to sell 📉
The Fed's Interest Rate Decision and the Press Conference are scheduled for Wednesday, which may increase volatility and assist in a short possibility.
I am planning to initiate a short position near 92k with a defensive and low-risk position size up to 96k and perhaps 97k, aiming for the support level of ➡️87k as the target.
1) The weekend volume is low, which is why Bitcoin is moving sideways.
2) Liquidity clusters have formed on both sides A) — significant high liquidity near ➡️ 90,500 B) Low liquidity near ➡️ 88,500.
3) BTC is indecisive and currently will move to hunt between one of the two zones, so take note and set your traps.
4) Next week is crucial due to the FOMC meeting, and there is a high probability that the FED will announce a rate cut, which could trigger volatility! 🔥
Now that I have identified the important points of the sideways movement, take note and set your buying or selling strategies if you prefer.
Personally, I am hunting for Buys 🛒 if it drops I will enter fractionally at all key points 🔑 that we will discuss today in the live stream on Bitsimples at 21:00 Brasília time.
The liquidation map does not have liquidity below, but above in the sold positions it is crowded, which justifies the price seeking a Fibonacci retracement close to 97k to 100k.
Notice the symmetrical triangle, 0.5 of Fibonacci has already been fulfilled on both sides.
The local support is also the retracement point for the buying zone, which is close to 86k to 87k. If it holds close to 86k and does not lose this point, the chances are for a rebound upwards seeking the liquidity of the sold positions close to 100k to 97k.
The market capitalization of ALTS is recovering from the support line of the ascending triangle pattern; if this support level of the purple trend line continues to be maintained, then an additional upward movement is likely. Keep your eyes peeled, the altseção has not yet happened and is still owing us.
🇺🇸 Elon Musk, the richest man in the world, with a fortune of US$ 500 billion, has just stated that Bitcoin may be the only currency and money of the future. 🔥
Bitcoin is based on energy.
It is a true currency based on principles of physics.
Now let's go with a turned hand 💰🚀 A good old Scalp
Sahal_Change
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Market Retreat: How to 'Buy the Dip' the Right Way
Hello friend, here I am today with a very serious and interesting topic if you are asking the following question: How to Buy the Dip to take advantage of it? If we try to look at the market after several weeks of strong increases and decreases, the cryptocurrency market is starting to calm down. The prices, which until now seemed unstoppable, are experiencing a slight retreat. For many traders, an essential question arises: is this the right time to buy the dip?