BTC NEWS ON 16/3
-----------
Over the weekend, the assessment for this week is that most traders are heading out with the price fluctuating like this. My friend also lost 3 trades, luckily salvaged 2 trades at the beginning of the week and 2 trades yesterday, so it's still a small gain 😵💫.
BTC is currently still in a narrow price range. Last night, I don’t know who was monitoring, but I mentioned to keep an eye on that price range; it went up a bit but then dropped back down to 83.7 and then went back up again.
In general, it's in a narrow price range but still within the structure I’ve identified, so if it doesn't go up, I tell my friend to short; if it doesn't go down, I tell my friend to long. It’s easy to get burned, but if you can profit, it’s still good.
The price at this stage is very deceptive; I can even see that it's tricking people, so I don’t dare to let my friend take a long position, just close it as soon as the order is filled. Otherwise, it could drop back to the entry or even hit the stop loss, which would be a disaster.
Alright, enough chit-chat, let’s get to the main issue: the price has broken through the green zone but is still below the red line. And it’s consolidating; with this sideways movement, there’s usually a large movement in one direction. Which direction is still unclear, but as long as it’s below the red line, I prioritize a downward movement for clarity.
The green zone probably has no value anymore since the price has broken through; we’ll see if there’s anything to redraw. For now, just let it be confusing. The focus is on the red line now 😂. Don’t forget to give a like 🙂↔️
