
Moipone_Phakisi
@t_Moipone_Phakisi
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Moipone_Phakisi

New supply zones are being formed as well lower lows and lower highs while the H1 TF resistance is being respected. I have every reason to believe the next target for this pullback will be around $112k

Moipone_Phakisi

In the event that the weekly support (break or bounce zone) breaks, then weekly demand (around $98k will get retested, but if price bounces in support, then we will get an uptrend continuation and ultimately new All Time Highs. So keep an eye on that weekly support zone. It's a critical zone.

Moipone_Phakisi

Moipone_Phakisi

I have got two target profit options for shorting BTC provided the current supply zone continues to hold well into NY session. TP1 in 116k and TP2 in 112k which is in a strong demand zone. Confirm your entries using lower timeframes candlesticks and whatever other confirmations you use.

Moipone_Phakisi

So all we have been doing the past few months with gold is trading a ranging market as seen on the daily TF. We have shorted when price gets to resistance and gone long when it is in support and used various price action patterns and shapes for confluence. It looks like we now have another confirmation to short to support.

Moipone_Phakisi

Possible correction to the downside following a breakot out of a Double Bottom pattern on H1

Moipone_Phakisi

Bullish flag break out and price is in a demand zone. As long as the demand holds, pressure will be to the upside.

Moipone_Phakisi

General trend and momentum is still to the upside. We now have a nice pullback and an opportunity to buy low again. Price is currently reacting to an H1 TF demand zone. If this zone breaks, look for entries in H4 demand and continue to ride the bulls to All Time Highs.

Moipone_Phakisi

The trend is still bullish and the daily bull flag I posted is still at play. This is just a lower TF perspective within the bigger overacharching view. Inverse head and shoulders and a bullish flag all indicate continuation to the upside. You can use market structure to confirm your entries and your target profit zones if you do not plan on holding until $150k

Moipone_Phakisi

There is currently a double bottom rejection pattern at play and price is reacting to an H4 TF demand zone. Confirmations to go long will be in this demand zone or the next one. But my money is on the current one. Best thing to do is wait for an M15 supply to break to validate taking longs from the current demand. But the bulls are showing strength.
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