BTCUSD H16: NEUTRAL OUTLOOK / range-locked 30-40K (SL/TP/NEW)

29 Jul 2021

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BTCUSD H16: NEUTRAL OUTLOOK / range-locked 30-40K (SL/TP/NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as NEUTRAL because we are range-locked now.

🔸 Summary and potential trade setup
::: BTCUSD 16 hour chart review/outlook
::: AS ALWAYS: DO YOUR OWN DUE DILL!
::: Trouble at Binance may cause
::: more downside risk next few weeks
::: trading near range highs
::: overhead resistance / HEAVY
::: near 43 000 USD so one possible
::: option is rejection at 43K
::: BULLS should look to BUY LOW
::: near 35K USD / mid range
::: if 35K USD fails / BEARS may
::: take over short-term and price
::: can hit near 25 000 USD
::: TREACHEROUS / LOW VOLUME trading range
::: TRADERS BE CAREFUL and don't get caught here
::: recommended strategy: WAIT for re-test
::: of 35 000 USD and LONG tight SL at 33 000 USD
::: IF 35 000 USD FAILS / get SHORT TP 25 000 USD
::: broke down / re-tested the structure
::: BTC will likely trade sideways
::: limited upside beyond 43 000 USD
::: 41/43K USD will MAX OUT / and pullback
::: will resume after we MAX OUT later probably
::: within one/two weeks time
::: BULLS get ready to BUY LOW later near 35k
::: so just sit out the correction now
::: good luck traders!
::: TRADE RANGE and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/PULLBACK/30000USD
::: Sentiment outlook short-term: BEARS/RANGE LOCKED

RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.