BTCUSDT
Daily analysis
The market structure remains bearish as the last week. The price tested the daily premium zone just with a wick. On the daily chart $22,500 is the place to be filled to ensure the closure of imbalance. Discrete liquidity heat maps show liquidation areas around $22,000 level.
4H analysis
The price is between LH and LL levels from May 10th. The two levels also exhibit a price range. Currently, the price is on the EQ level. Also, RSI is on 50 level. The weekly close will be important in this case for possible manipulations. The above imbalance between $27,550-$27,350s can be considered as a decision zone for possible short entries. We can decide possible short positions within imbalance.
XAUUSD
Daily analysis
From the early May the price of the gold visited twice the weekly liquidity void. The last was this week and the price remained nearly the same as the close of last week. The price bounce was from the top of the imbalance level. It seems that that level is not strong enough to push the price upward. We may expect the price to get more liquidity from cheaper prices. In this case, 4H premium zone may be visited after reaching a lower price. On the other hand, the market structure will remain bullish as long as the price is above $1,800. Furthermore, MA100 remains a solid support line.
Hourly analysis
The market structure was bearish for the last three weeks on both 1H and 4H time frames. 1H LH level remains unvisited. If a liquidity wick would have been reached that value, then we would be sure of a possible short position. Furthermore, RSI is below 30. This can be sign for short range long entries until the imbalance zones over the current price.
EURUSD
Daily analysis
Last week we expected the price to reach the imbalance level. Chart of his weeks clear shows the price movement and the imbalance was filled. On 4H time frame the price is bearish, however, we have a reversal trend for 1H. Further, explanation for lower time frames are available under the explanation of each LTF.
4H analysis
The EURUSD pair evaluated to be in bearish since the last two weeks. The bullish RSI divergence lead the pair move further price level. This made a market structure break on 1H. This can carry the price until 4H premium zone. Exact place for long entry can be available on LTF charts.
Hourly analysis
This week market structure turn to bullish on 1H time frame. The price reached 1H discount zone. Now we need 5 min confirmation for a possible long position to target upper levels. On HTF we expect 4H premium zone to be reached.
** Important Note: Above ideas are not investment advice!**
Nihat Çetinkaya
https://twitter.com/nhtctnk
I’m a private trader of over 7 years, based in Istanbul.
All trading and research are my opinion, not investment advice.