ThoughtsOutLoud BTC

4 Jul

BTC has entered the order block testing zone at the local low, but I don’t yet see any confirming factors for longs. First of all, there is a lot of liquidity accumulated under 56600. The local structure remains short. Since the last rise, we haven’t even tested the 0.5 Fibonacci zone (which is just below the local low). The RSI divergence is not considered valid by me because we tested 70% before the last move. There are gaps below the local low, and the local structure is still short. On the positive side, we have taken out the previous month’s low, and that’s about it. I will start considering longs after taking out the local low of 56600 and testing the 0.5 Fibonacci level of structural growth or after testing the order block at 52k.