BTC Sunday update:
First of all, let's look back at the previous Sunday update in which we drew this scenario... It's an ongoing projection.
We're going to have a rough trading week with: - Midterms Elections on Tuesday - CPI on Thursday - US bank holiday on Friday
The best time to trade this week will be:
- Monday - Tuesday until the London session finishes - Wednesday - Thursday 2 hours after CPI (imbalance trading) - Friday until the London session finishes
Plan your trading week. That's my schedule 🤝
The CPI and Core CPI results are important towards the next FED interest rate decision.
Previous: 8.2% Est: 8%
If the results come higher than 8%, it would mean that inflation is not getting better so the FED will continue being aggresive which it's bad for BTC.
I personally think that the FED will continue rising hikes and we won't see things getting better for a few more months (this is subjective).
This takes me to the liquidation chart and see the areas of interest to the downside in HTF.
And I see the area around 17.5k...
I remember pointing out the wick at 17.5k when we were at 42k, I looked crazy but now it's filled to the dollar.
But we also have another wick at 16.5k and a a LP until 14k
CT is turning bullish. We need to keep our mind open as there is still more liquidity to the downside
This week's projection will be the continuation from last week as it seems like it could still be playing out.
For the record, I built shorts between 21.1k and 21.5k, like many of you. I've already TP 70%.
I'll let it run with SL at profit incase we see 19k this week.
But there is a possibility of a pump to the next liquidity zone which it's between 22.5k and 23k if the CPI results are positive.
This liquidity area would be formed by - The imbalance up to 22.5k - The liquidations at 23k.
That would be my next area for building shorts.
Be very careful with leverage and SL this week. Tricksy week.
There will be several liquidity grabs, specially on Tuesday and Friday because market won't have much liquidity as we won't have a NY session those days.
Avoid trading during CPI results on Thursday.
This post is based on this twitter thread.