Hello Traders,
I hope you had a nice Week-end despite the quarantine.
Remember my first two analysis about Bitcoin ?
Ok, So today i propose you a different view with Fib retracement & Heikin Ashi chart !
1. I know you gonna say me why i put my Fib like this ?
99 % of traders who use
Fib retracement choose the highest point of the chart and extend it to the lowest point of the chart.
It's the classic way to use Fibonacci.
But there are other ways just let me show you one different.
Where dit it come from ?
To be honest, I simply listen the tips from a professional trader who has been investing more than 30 years.
You have to put your Fib retracement on the candle which break your "trend" line.
Just be carefull that your line has to be well placed on your chart.
The line must tell you the story of the asset and not make your analysis more difficult.
Then extend the fib till the lower candle of your chart but you have to choose the close of your candle.
Remember OHLC check it and enter the close of your lower candle in your Fib coordinates price bar 2.
Personal advice :
It's not necessary to hold the wick of your candle in your Fib if the candle has.
You can of course but it's not necessary.
Why ?
Because the wicks are just market noise.
The wicks are important for other stuff like candlestick pattern etc. etc. but not really for your Fib.
2. On the chart you'll see what i'm thinking about the possible scenario for Bitcoin with Fib retracement.
3. Don't forget the VWAP.
VWAP is your best friend !
Here we have 2 case :
a) Bitcoin price broke the VWAP and did a pullback on it for then continue its Downtrend.
b) In the actual trend, Bitcoin price broke the VWAP, still continue its Uptrend and did not pullback.
4. Because of the VWAP break in the actual trend we have a really nice bullish potential.
5. Please, if you want to enter Long in a trade, Pay attention for a possible retracement like you can see on my chart.
Ok, it's all for today !
I really hope you'll like it !
Please don't forget to support me with a following and a like !
Thanks & see you !
I hope you had a nice Week-end despite the quarantine.
Remember my first two analysis about Bitcoin ?
Ok, So today i propose you a different view with Fib retracement & Heikin Ashi chart !
1. I know you gonna say me why i put my Fib like this ?
99 % of traders who use
Fib retracement choose the highest point of the chart and extend it to the lowest point of the chart.
It's the classic way to use Fibonacci.
But there are other ways just let me show you one different.
Where dit it come from ?
To be honest, I simply listen the tips from a professional trader who has been investing more than 30 years.
You have to put your Fib retracement on the candle which break your "trend" line.
Just be carefull that your line has to be well placed on your chart.
The line must tell you the story of the asset and not make your analysis more difficult.
Then extend the fib till the lower candle of your chart but you have to choose the close of your candle.
Remember OHLC check it and enter the close of your lower candle in your Fib coordinates price bar 2.
Personal advice :
It's not necessary to hold the wick of your candle in your Fib if the candle has.
You can of course but it's not necessary.
Why ?
Because the wicks are just market noise.
The wicks are important for other stuff like candlestick pattern etc. etc. but not really for your Fib.
2. On the chart you'll see what i'm thinking about the possible scenario for Bitcoin with Fib retracement.
3. Don't forget the VWAP.
VWAP is your best friend !
Here we have 2 case :
a) Bitcoin price broke the VWAP and did a pullback on it for then continue its Downtrend.
b) In the actual trend, Bitcoin price broke the VWAP, still continue its Uptrend and did not pullback.
4. Because of the VWAP break in the actual trend we have a really nice bullish potential.
5. Please, if you want to enter Long in a trade, Pay attention for a possible retracement like you can see on my chart.
Ok, it's all for today !
I really hope you'll like it !
Please don't forget to support me with a following and a like !
Thanks & see you !
