Olajireolapoju

This is just for educational purposes and not a signal. This Trend-based extension analysis is just to demonstrate why price rejected at $4,955. You can also see how many time price resisted the 0.382 and the trend line within the Fib tool before the final breakout post-ATH. You can also see the reaction at 0.618 with the previous day's very aggressive Bullish candle. This explains how important 0.382, 0.618 & 0.5 fib levels are. I hope this analysis helps

Apart from the fact that it is obvious to me that the daily Order Flow on BTC is bearish, I have highlighted 4 different good reasons why I personally will not be buying BTC for now. A lot of BTC fanatics believe that BTC and cryptos in general are driven by Fundamentals, which is absolutely correct but my major challenge is that a lot of them are driven so much by emotions not Price Action. I have been in this market for well over one and half decades and I can tell you that my technical knowledge, which has its strong Foundation on Market Structure & Price Action has seen me make so much money trading technicals. Yes, when strong fundamentals such as US election results and other factors, including hypes and other unexpected events, come, they can change the direction and price can go crazy or either way. This is where your risk management will then play a major role by saving you from unexpected losses or help you minimise your losses. However, do not ignore the importance of market structure and Price Action irrespective of the pairs or assets you trade.

Weekly simply shows there are more rooms for BTC to continue the uptrend but lower time frame will let us know better as there may be pullbacks however, we need the weekly candle close above the most recent high of $118,900 to give us that immediate confirmation. So as not to get trapped by the bears, the best way to trade the buy for BTC is to have a buy-stop Order at $118,900 with SL below $112,000 with very low Lot size depending on your account balance. Proper risk management is strongly advised

I my opinion that based on my 4H analysis, Gold will retest $3,451 in the coming week but we need to pay attention to those daily key support zones. Gold usually does deep retracement and that makes the unmitigated Bullish OB a good zone for patient buyers/ Play safe.

Dear Traders, Whilst I believe that BTC is still generally bullish, I also think it is important for traders to always pay attention to what price is doing and not what we think price is going to do, and this is simply what we mean by price action in simple terms. As we can see, the bullish momentum is generally slowing down and we have seen three attempts made by price to swing above the previous high of $112,000 that kept failing. We have also seen two Lower Lows (LLs) on the daily and a Lower High (LH) followed by a Double Top, which is currently seeing price pulling back and can be seen better in lower timeframes which may also be forming and giving us some bearish patterns. This is enough signal and warning for buyers to pay detailed attention to what is going on and look for high probability buy trade set up rather than emotional trading or placing random entries. I think there are 2 possible good options for buyers, the first is a buy-stop set up above the previous high of $112,000 up to the next psychological levels at $115,000 and $120,000. The next option would be to buy from the middle of the yet to be mitigated FVG below current price level but we must take cognizance of the order flow below it as price may also tap into it before going up. Sellers may consider a sell stop to the FVG or wait for confirmation, which is a bodily close below the immediate unmitigated Bullish OB. The summary of my idea is that, BTC may make another Lower High (LH) and Lower Low (LL) before the next Bullish Run but we just need to pay attention to what price is doing and not get carried away with our emotions. I remain neutral for now

Dear Traders, In my personal opinion, BTC may just create another Lower Low (LL) before a new bullish run or before creating a new All-Time-High (ATH). Paying close attention to price action, there are so many overlaps of Institutional reference points around the zone price is current at the moment and there are three clear ones that are yet to be mitigated. 1. Bearish OB, 2. Bearish Mitigation Block and 3. FVG. The Bearish OB The Bearish Mitigation Block is yet to be mitigated as well as the extreme Bearish OB. For me, if you are not in any trade and you see this kind of price action and you want sell, it is better to wait for the bearish Mitigation Block and if for whatever reason, that fails, then, look at the bearish OB with SL above the price tag in green,. You should pay attention to notice if there is a break above the Bearish OB in 4H and if that happens, the bias should change to Bullish but for now, I think we may just see another Lower, low before a Bullish Run probably to a new ATH. I am personally bearish with caution. I personally would like to see a clear bearish pattern in lower timeframes once price gets to any of the POIs above current price level before making attempts to sell, otherwise, with any bodily candle close above the previous high of $12,000, I will surely start to look for buy opportunity to join the new rally. So I would remain neutral until then. Stay safe.

In my last BTC idea, I simply mentioned that I would remain bearish on BTC until I see a closure above the most recent high of $112,000. Right now after BTC failed to close above the previous high, we have been seeing some bearish movement and now the king of crypto is trading the uptrend line. We also saw a pullback toward the trendline but the price of the asset could still not break and close above the trendline thereby giving some warning to BTC Bulls and retail traders trading with emotions rather than paying attention to price action. For me, I believe that for as long as price continues to trade below the trendline, we are more likely to see some attempts for price to violate already mitigated FVG and see price at the $98,000 to $101,000 zone in the first instance and if we see a close below the FVG, then we might see $95,000 sitting in the daily Order Flow zone. Pay attention to price action and trade with less emotions.

BTC has been stuck within the bearish mitigation block for over 24 hrs. I see the possibility of pull-back to retest the previous low

I am bearish on BTC until a strong bodily close above the bearish OB to confirm Bullish and possibly a new High

Dear Traders, Most times Retail Traders lose trades because their emotions overpower price action. From the daily chart again, it is quite obvious why I mentioned that I am still bullish until Gold Closes strongly below $2,345. Until then, I will keep looking for bullish price action above that level until gold proves otherwise. It is usually good to pay attention to price action, that is what price is doing exactly and not what we think price is going to do. As we can all see from a daily perspective, there was a strong daily close above the bullish flag which may potentially be confirming bullish continuation. However, it is important to note that price will always do its thing and our job is simply to pay attention and trade only in the direction of price, Trade carefully and apply proper risk management.