October 19, 2021

Current Bitcoin and Oil Situation through Market Profile

Futures on # Bitcoin, as expected, continued to return to the Value Area of ​​the previous balance (below the level of $ 8478) decline 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 marks in the presence of a setup.
2) Short with the breakdown level of $ 7920.
3) Or short when returning to the beginning of the impulse movement at $ 8415.

Current Bitcoin and Oil Situation through Market Profile

# The oil on the watch is now merging as partbalance. Flat is old, so the probability of getting out of it increases. But it’s worth selling only below the level of $ 55.88, because quotes are now in the zone of "low prices" where the buyer can show himself.
1) Short after the breakdown and consolidation 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, it will be possible to consider purchases with a target of $ 57.57.
3) If a false breakdown of the level of $ 55.88 is formed, then purchases should be taken very conservatively, with an obvious trend structure up.

Current Bitcoin and Oil Situation through Market Profile

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