Hello traders and investors!
Firstly, it should be noted that if you look at 1wTF, then there is a small chance of the upside to $ 7400 by the end of this week, but if you want to open a long position you should do it with a minimal stop-loss.
Secondly, the local bearish trend is under the pressure of a general downtrend, which should stop potential investors from opening long positions.
3dTF
Tomorrow will start a new 3-day trading session, and the most interesting is that on the 3dTF there is only the last support line - 200EMA, it has, not only an important psychological barrier, which holds back a large number of investors from the sale, but technically, if the price breaks this support, then you can open 1wTF and look for the support lines on it, this is 100EMA - $ 5600 and 200EMA - $ 3600.
1 dTF
At the 1dTF, everything can be described in a boring technical language, the MACD indicator below the centerline, plus it made a crossover with its signal line, a bearish sign, the price is trading below 7EMA and this line is the first resistance for Bitcoin ~$7200.
4hTF
On the local trend, you can catch a wave, and open a long position. The histogram for 4hTF shows more purchases, and the MACD indicator is ready to cross its signal line. If you look at the resistance, you can see it on the 30EMA line ~ $7200.
Conclusion. I recommend to wait.
Firstly, it should be noted that if you look at 1wTF, then there is a small chance of the upside to $ 7400 by the end of this week, but if you want to open a long position you should do it with a minimal stop-loss.
Secondly, the local bearish trend is under the pressure of a general downtrend, which should stop potential investors from opening long positions.
3dTF
Tomorrow will start a new 3-day trading session, and the most interesting is that on the 3dTF there is only the last support line - 200EMA, it has, not only an important psychological barrier, which holds back a large number of investors from the sale, but technically, if the price breaks this support, then you can open 1wTF and look for the support lines on it, this is 100EMA - $ 5600 and 200EMA - $ 3600.
1 dTF
At the 1dTF, everything can be described in a boring technical language, the MACD indicator below the centerline, plus it made a crossover with its signal line, a bearish sign, the price is trading below 7EMA and this line is the first resistance for Bitcoin ~$7200.
4hTF
On the local trend, you can catch a wave, and open a long position. The histogram for 4hTF shows more purchases, and the MACD indicator is ready to cross its signal line. If you look at the resistance, you can see it on the 30EMA line ~ $7200.
Conclusion. I recommend to wait.