USING GANN To Trade BITCOIN:
Grey GANN:
The resistance at 1/1 led to the subsequent dump in March, albeit that was caused by Coronavirus fears; so that can be regarded as an anomaly, however, Bitcoin has made a strong recovery since then thus leading to it breaking that resistance and as long as we stay above the 1/1 area we are still BULLISH.
Break ABOVE 2/1 could lead to high volatility and strong upside potential and possibly ATHs for Bitcoin.
However, recent candles show a potential drop below 1/1, cross below 2/1 would be a 2ND BEARISH confirmation giving us potential lows similar to those of March, which would set up for a subsequent bull run if it is fundamentally sound.
Green GANN:
As before, as long as we stay above 1/1 we can claim long term BULLISH territory with this perspective looking far more positive than the Grey Gann.
However, the potential for the downside is there with retraces to the 1/2 area being textbook which would provide buying zones in the area 6700-7600.
Please FOLLOW AND LIKE if you like the IDEA, I will be posting regular updates for it.
Keep an eye out for momentum changes and bullish divergences on the Volume and RSI
BTCUSD
BTCUSDT
BTCUSD
BITBAY:BTCUSD
XBTUSD.P
BTCUSD
Grey GANN:
The resistance at 1/1 led to the subsequent dump in March, albeit that was caused by Coronavirus fears; so that can be regarded as an anomaly, however, Bitcoin has made a strong recovery since then thus leading to it breaking that resistance and as long as we stay above the 1/1 area we are still BULLISH.
Break ABOVE 2/1 could lead to high volatility and strong upside potential and possibly ATHs for Bitcoin.
However, recent candles show a potential drop below 1/1, cross below 2/1 would be a 2ND BEARISH confirmation giving us potential lows similar to those of March, which would set up for a subsequent bull run if it is fundamentally sound.
Green GANN:
As before, as long as we stay above 1/1 we can claim long term BULLISH territory with this perspective looking far more positive than the Grey Gann.
However, the potential for the downside is there with retraces to the 1/2 area being textbook which would provide buying zones in the area 6700-7600.
Please FOLLOW AND LIKE if you like the IDEA, I will be posting regular updates for it.
Keep an eye out for momentum changes and bullish divergences on the Volume and RSI
BTCUSD
BTCUSDT
BTCUSD
BITBAY:BTCUSD
XBTUSD.P
BTCUSD
