Ok, so BTC did some nice movements overnight – sadly I was wasting my time sleeping, but that’s fine. At least we will have some educational purpose here.
It seems the bulls woke up today, and they gave us some interesting signs. The candle I pointed in the chart is an ignition bar, a large candle that appeared just above the 21 ema along with a volume way above the average. And most important, it closed above the pink line at $ 8896, triggering a pivot.
Usually, I like to buy half position when this bar closes, and the other half when the price breakout the ignition candle’s high. But in this case, next to the ignition candle, we see a characteristic “gift”, which is just a correction, or consolidation at smaller timeframes. You could've long at this gift as well.
Now, the price found a support at the thin black line, and other than the ignition bar, I see no clear buy signal here. I do daily analyses about BTC and other stuff I trade, so remember to follow me to keep in touch! Let’s look the daily chart:
Yes, BTC triggered a Harami, but I don’t like to trade this pattern when it’s in the middle of nowhere. If this pattern was near to a clear support or trendline, then things would be different. Either way, BTC should trade above the light blue line again ($ 9.2k), then we will see some reaction.
As I said in my last analysis, there’s nothing exciting here, but we will continue to monitor BTC closely.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
It seems the bulls woke up today, and they gave us some interesting signs. The candle I pointed in the chart is an ignition bar, a large candle that appeared just above the 21 ema along with a volume way above the average. And most important, it closed above the pink line at $ 8896, triggering a pivot.
Usually, I like to buy half position when this bar closes, and the other half when the price breakout the ignition candle’s high. But in this case, next to the ignition candle, we see a characteristic “gift”, which is just a correction, or consolidation at smaller timeframes. You could've long at this gift as well.
Now, the price found a support at the thin black line, and other than the ignition bar, I see no clear buy signal here. I do daily analyses about BTC and other stuff I trade, so remember to follow me to keep in touch! Let’s look the daily chart:
Yes, BTC triggered a Harami, but I don’t like to trade this pattern when it’s in the middle of nowhere. If this pattern was near to a clear support or trendline, then things would be different. Either way, BTC should trade above the light blue line again ($ 9.2k), then we will see some reaction.
As I said in my last analysis, there’s nothing exciting here, but we will continue to monitor BTC closely.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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💲💲 Project 5%: + 104%
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💪 Public track record.
👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
