In a few hours (14:00h NY) we will have high-impact news.
This will generate volatility with the potential to send the price of some financial assets to extreme levels of liquidity.
BTC
For this reason, I will not make any decisions regarding BTC today, because I need to see the price reaction in the FVG-W and FVG-M zones.
This is the key zone, and we can only know the true intention of the market when the daily candle closes.
TRX
Instead, I prefer to maintain my position in TRX because, so far, it is providing a better price reading.
BCH
I am also very interested in Bitcoin Cash, because it is in an upward trend, and I am expecting it to end this week in positive territory.
The 0.5 and 0.375 Fibonacci levels is key for today.
In conclusion:
The performance of some altcoins suggests that BTC may move higher, but at the same time, BTC's structure is in a reversal zone.
Therefore, I prefer to stay away from BTC until it provides clear confirmation and focus on TRX and BCH, since their structure allows me to clearly identify an invalidation zone where I can place a stop-loss.
This will generate volatility with the potential to send the price of some financial assets to extreme levels of liquidity.
BTC
For this reason, I will not make any decisions regarding BTC today, because I need to see the price reaction in the FVG-W and FVG-M zones.
This is the key zone, and we can only know the true intention of the market when the daily candle closes.
TRX
Instead, I prefer to maintain my position in TRX because, so far, it is providing a better price reading.
BCH
I am also very interested in Bitcoin Cash, because it is in an upward trend, and I am expecting it to end this week in positive territory.
The 0.5 and 0.375 Fibonacci levels is key for today.
In conclusion:
The performance of some altcoins suggests that BTC may move higher, but at the same time, BTC's structure is in a reversal zone.
Therefore, I prefer to stay away from BTC until it provides clear confirmation and focus on TRX and BCH, since their structure allows me to clearly identify an invalidation zone where I can place a stop-loss.