June 18, 2024

Current Bitcoin and Oil Situation through Market Profile

#Bitcoin futures, as expected, with the return of the previous balance to the Value Area (under the level of $8478) continueddecline to the lower border of this balance. The market is in the downtrend, the priority is shorts with targets at $ 7920, $ 7465 and $ 7220.
1) Short from current levels if there is a setup.
2) Short when the level of $7920 is broken.
3) Or short when returning to the beginning of the impulse movement at $8415.

Current Bitcoin and Oil Situation through Market Profile

#Oil on the watch is now draining withinbalance. The flat is old, so the probability of exiting it increases. But it’s worth selling only below the level of $55.88, because Now quotes are in the “low prices” zone, where the buyer can show himself.
1) Short after breaking through and consolidating below the level of $55.88 with a target of $54.
2) If a buyer suddenly appears at current prices, then after returning to the Value Area you can consider purchasing with a target of $57.57.
3) If a false breakout of the $55.88 level is formed, then purchases should be taken very conservatively, with a clear upward trend structure.

Current Bitcoin and Oil Situation through Market Profile

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