Based of the monthly.
What we call a V-formation, followed by a test.
The test comes in with weak sellers and very slow.
Followed by strong buying power, where sellers can't do much.
Price has turned in a range, where the buyers seem to be stronger.
Entry will be based of a mix of Daily, 4H and 1H
Price is at a weekly zone.
Weekly pullback seems to end. No higher highs, and full retracements.
The 1H shows a shift in market structure.
For now the targets are based of the 1H structure.
If the higher timeframes show the same sell direction, we can look for sells for a longer term trade as well.
Based of the Daily broken structure on BTCUSD, I'm expecting a drop towards the 44800 price area.
I will be monitoring the 4H and see where I can spot the Lower High formation
Based on the break and retest strategy on the weekly timeframe, I'm going to look the lower timeframes such as 1H/4H/D to look for short confirmations when price reaches my previous broken support zone.
Also, The weekly broke a previous level of resistance and could be tested as a new support. Same here, I will be looking for the lower timeframes such as 1H/4H/D...
