FenzoFx—Bitcoin’s downtrend eased near the bullish order block but hasn’t entered the zone. It’s currently consolidating around $114,360.0, below the July 14 VWAP.
No clear break of structure has occurred, making long positions risky. Key support lies at $110,650.0, backed by high volume.
Technically, price is expected to enter this zone. If it does, traders should watch for a break of structure on lower time frames like M15. This setup offers a minimum 1:7 risk-to-reward.
If BTC closes below the main support, bearish momentum may continue toward the next order block at $110,120.0.
No clear break of structure has occurred, making long positions risky. Key support lies at $110,650.0, backed by high volume.
Technically, price is expected to enter this zone. If it does, traders should watch for a break of structure on lower time frames like M15. This setup offers a minimum 1:7 risk-to-reward.
If BTC closes below the main support, bearish momentum may continue toward the next order block at $110,120.0.
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.