$BTC Update šØ
This chart shows that the market first created a fakeout to the upside, trapping buyers above the resistance zone. Now, the price is moving downward toward the liquidity that is resting below the blue line.
According to the trading plan:
š¹ Wait for the liquidity below the blue line to be grabbed meaning, price should wick below the blue line to trigger stop-loss orders or collect pending orders.
š¹ After that, wait for a bullish candle to close back above the blue line. This shows that the market has collected liquidity and is rejecting the lower prices.
š¹ Only then consider entering a long (buy) position, once the bullish confirmation is in place.
This approach helps avoid entering too early and ensures the market has grabbed enough liquidity for a potential reversal.
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