BTCUSD Price Action H12 Chart
You can check out my view on the HTF BTC trend, by checking out the link to the related ideas section.
As you can see, the HTF demand level worked as expected and the buyers pushed the price above the mid-Monday level. However, in order to speak of an uptrend first, the price should clear the 43980 level and should hold the red box area with a retest. Then, we can expect the price to visit the orange level(which is self-explanatory).
However, if the price only leaves a wick(which would be a stop hunt and a trap for bulls) at the red box or slightly above, then the traders can assume the selling pressure in this area is still high and can use the same area as a short setup zone.
As you can see, the HTF demand level worked as expected and the buyers pushed the price above the mid-Monday level. However, in order to speak of an uptrend first, the price should clear the 43980 level and should hold the red box area with a retest. Then, we can expect the price to visit the orange level(which is self-explanatory).
However, if the price only leaves a wick(which would be a stop hunt and a trap for bulls) at the red box or slightly above, then the traders can assume the selling pressure in this area is still high and can use the same area as a short setup zone.
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