As you can see, again BTC/USD has followed our second figure... this shows how much the market is obeying us! If BTC/USD breaks the 63,309 zone by only 50 pips - you may want to be on high alert for a retest instead of executing your trade. Keep in mind, ideally NY session is best for Intraday trading as it normally establishes the true highs and lows of the day.
Important Levels & Structure in the Market
63,309 Level Breakout:
The BTC/USD is seeing a break out towards 63,309 by 50 pips suggests that the current trend will continue. Nonetheless, for this not to be a fake out awaits the retest of this level by the market. These further stresses the importance of waiting for and ensuring that a retest follows through successfully, which confirms the breakout.
65,997 Level Breakout:
As I wrote in my previous post, a high-volume breakout. 65.997 level would be an indication of immense Bullish Strength in the market. This breakout should then be fine-tuned using smaller timeframes (e.g., 1-minute, 5-minute) to identify the most exact entry points. This background story tackles practicing better risk management in order to increase the likelihood of catching good trades.
Intraday Trading NY Session
The same is applicable to trading the New York session which happens mainly for intraday. It is during this session where most major market moves take place fleshing out the main highs and lows for the month. That is why it makes sense to monitor the NY session so that you can find good trades when most of these movements are taking place.
Retesting and Order Blocks
On the 1-HR chart, BTC/USD also visited the closest order block at 64,625. If market test the order block, then it's possible that market move downward again but market break the order block level then picked the structure 3
Order Blocks:
Order Block: areas where large orders were previously placed that sometimes-caused strong market movements. Our analysis played out, and the 1-hour chart managed to reach a test of that main order block at 64.625 (in orange) which confirms further our thoughts before on how this market is following through with what we forecasted ideally not so long ago.
Entry Confirmations
Look for those entry confirms before you take any trades. These include:
Only Hunted Liquidity: Make sure the market has hunted liquidity (set trades that we know will liquidate)Potentialberg or continue to travel.
Order Blocks: Find important order blocks where the market should respond.
Fair Value Gap (FVG) : Find any gap can be filled by the market that would offer a suitable entry level sentiment.
Breaker Blocks: Look for breaker blocks which may suggest the market should fail and break down a reversal.
(New Discovery) Momentum Shift - Make sure there has been a momentum shift that tells you the trade is really going in your direction.
Anticipated Market Behavior
In our structure we expect move from BTC/USD with test the region of 63,309 volume candle. This is a good opportunity to make that initial trade post the retest. Yet, one must remember the entry confirmations to maximize a successful trade.
Conclusion
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