Bitcoin bounce here or we go much lower · Leverage Hero Crypto Trading

Bitcoin bounce here or we go much lower

This is a setup that similar to a range happens very frequently.

We've been in bearish market structure (bear trend), making lower highs and lower lows.

We get a market structure break when price makes a higher high as it did here.

Then after that the MSB is often followed by a retest of the fibonacci golden pocket, 61.8-0.70% retarcement, and if this is valid then we see continuation in the reversal direction of the MSB (up in this case).

Invalidation is easy, it should not go below the wick low, as per the setup on this chart.

Personally I do like this setup also, but it's not as reliable/predictable as the range setup which is why the range setup is my all time favorite, the rules and criteria are more clearly defined. (Go through the course in the classroom tab if you haven't done so yet to learn how).

Anyways, just sharing some insights/educational updates here. Drop a like if you want me to do this more regularly.

I'll update the chart in a few days so we can see how it played out.

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