The weekend for BTC is essentially a trap. People get bored, they get into trades, place their stop losses at the recent high/low and eventually get stopped out, most of the times on both sides, long and short.
A variant of the TR Pocket Fib consists of drawing it from the Saturday’s high to its low, referring to UTC+0 timezone and after that I will then look at current market conditions to determine which entries are most likely to happen.
This Sunday I believe we can actually get a trade from all 4 levels or 2 at least because I think it’s most probable for us to come to one of the lower levels to get liquidity and then go to the higher ones, possibly 27000 which has a Single Print or to 27190 which is a TPO POC. However, when and if we go to one of those higher levels, it is also very probable to come down to 23568 which has another Single Print right on top of a super ancient Breaker Block. This trap move usually happens around Sunday 16 to 19pm UTC+0.
So I think the most probable move would be to reach a lower level of the TR Pocket, bounce from there and then reject from 27000 (Single print), 27190 (TPO POC) or 27392 (Liquidation level).
However, if we go to one of the levels above first, it would then be probably best to cancel the longs since we have a considerable liquidity curve to grab and also a big vector to recover below us.
How I personally trade this is to enter on each of the levels, take TP1 at the 0.5 of the TR Pocket Fib, move the stop to breakeven and then try to let the rest ride because this can be the trade that lasts for 3 or 4 days until we get the Mid-Week-Reversal.
Also, although my bias is for more downside, we have to consider we are in a macro daily range, ever since we SFP’d 24778 (MEXC Value) so any of these long entries might be what takes BTC up if we are to do a full range rotation eventually.
