Bitcoin View: 4H
The day before yesterday mentioned the range of 1038-1045; if it gets blocked, then a short strategy can be implemented. Yesterday's drop was quite comfortable to trade.
Currently, the price of Bitcoin at 102 is a no-trade zone for me, not fitting into my trading system. This position is in an awkward spot where it can go up or down.
For going long, I will wait for the liquidity at 981 to be swept away before moving back up. At that time, I will enter a long position, and if it drops below 981, I will cut my losses.
As for friends looking to trade ultra-short, they can monitor whether the short-term support at 1015 can hold on the next retest. If it holds, it is also possible to consider a short-term long, with targets looking at 1038-1045. If it breaks through, hold until around 1072.
For shorting, the minor resistance is at 1038-1045, and the major resistance is in the range of 1062-1072. Both of these positions can be shorting points. If it breaks through, cut losses, with targets looking for liquidity at 1015 and 981.
For shorting, the same principle applies. If it breaks below the support at 1015 and the rebound fails to reclaim the support, turning support into resistance, that is also an opportunity to go short. $BTC
