BTCUSDT. Buying opportunitiesHello traders and investors!
For a month, I followed the previous analysis. Now, I’ve decided to create a new one. Let me remind you of the setup.
Quotes:
On the 8-hour time frame, a sideways range has also formed. The lower boundary is at 53,485, and the upper boundary is at 71,997.
On the 2-hour timeframe, the seller's vector 8-9 has reached the target of 56078. The volume and delta are conducive to gathering stop losses below the level. The quick recovery by the buyer after the breakout and the candle closing above 56078 increase the likelihood of the price dropping below the local low of 55606. For the buyer's range vector 9-10 to play out (with a potential target of 62745), it would be prudent to accumulate volume and push the price below the local low of 55606.
In fact, the price followed the assumptions. What’s next?
On the daily and 8-hour timeframes, the buyer absorbed the seller's candle and formed a buyer's zone. At the same time, on the 8-hour timeframe, the seller touched the lower boundary of the range at 53,485, from where the buyer resumed.
On the 2-hour timeframe, the seller manipulated the level of the beginning of the buyer's last impulse (56,078) at point 7 of the range. The price is currently above this level.
All these factors favor searching for buy opportunities.
I f the buyer defends 56,078 , potential targets are
58,519, 59,005, and 62,745, 65000 on the 2-hour timeframe,
61,166, 62,198, and 70,079 on the 8-hour timeframe,
and 61,166, 62,745, 70,079, and 72,797 on the daily timeframe.
Good luck with your trading and investments!
