BTC breakout! Pull back before continuation?

٢٠ يوليو ٢٠٢٣

BTC has broken out of a wedge, but the red line indicates the previous candle closed in overbought territory and could be due for a reversal.

We could see a pull back before price then continues north.

٢٠ يوليو ٢٠٢٣

ملاحظة

I'll be looking to see price come deep into this Fair Value Gap before reversing. Areas of interest to look for a reversal back to the upside is on the 0.5-0.702 fib level. Zooming in to 5min to look for change in market structure

٢٠ يوليو ٢٠٢٣

ملاحظة

Back into reversal area now

٢٠ يوليو ٢٠٢٣

ملاحظة

There is the bounce at 0.5 on the Fib, which is half way in the FVG

٢٠ يوليو ٢٠٢٣

ملاحظة

٢٠ يوليو ٢٠٢٣

ملاحظة

Was a good scalp

٢٠ يوليو ٢٠٢٣

ملاحظة

Thanks for playing