Ok guys…
Before we get into the New York Fire…
The chart above shows the potential for a specific play.
During the new york session brinks box…We may be coming into some volatility with news plays at 3PM uk time.
Marked off in the chart are zones to be aware of…In relation to last night’s post, we are focusing our attention on the way price might be played in this zone.
The orange lines are high-volume nodes in the volume profile where we expect activity to happen.
Notice what is happening above the key 20000 mark…
If news comes out today and is negative for the dollar…
two scenarios could come into play.
1) The dollar dominance is maintained and the dxy continues up which puts pressure on bitcoin to drop.
2) The news is negative and the dollar drops and bitcoin moves back up, but then settles and drifts back down lower.
Why is it important to understand this? Because there are traders who trade exclusively, the result of the news. If it’s positive for the dollar, the price will rise, the negative price will drop and traders will open positions on that narrative.
Remember…The bigger picture…
See you in the Fire
Mad Love
T
