Hello guys, I will explain to you the basic Technical Analysis for BTCUSDT price action movement.
So, here I'm using very basic TA for any commodities. I will share the configuration.
Blue Line: EMA 21 Weekly Timeframe.
Green Line: MA 50 Weekly Timeframe.
Yellow Line: MA 200 Weekly Timeframe.
So, from the data history that you can see in the chart. MA and EMA have a relation to determine the price probability for BTCUSD. The easiest way is to look up at the previous bull and bear condition. first, BTC Price would go for bullish when the BLUE LINE crossed up with the GREEN LINE (Like we see in June 2019 and July 2020). otherwise, when The BLUE LINE Crossed down with GREEN LINE, the movement price is likely bearish and try to claim the YELLOW LINE(MA 200). So, I could say if we use this Indicator as price action, BTCUSDT could be reached $20,000 - $25,000. If you said that it would reach $100K I can't say no. BUT, in the daily chart and weekly chart it said very bearish could come because of BLUE LINE(EMA 21) Crossed Down with Green Line (MA 50).
THIS Q2 2022 IS VERY RISKY TO OPEN A LONG/BUY POSITION. I PREFERRED SHORT IN THE DEMAND AREA, RATHER THAN BUY IN THE SUPPORT AREA. TIME WILL TELL.
THANKS IN ADVANCE.
So, here I'm using very basic TA for any commodities. I will share the configuration.
Blue Line: EMA 21 Weekly Timeframe.
Green Line: MA 50 Weekly Timeframe.
Yellow Line: MA 200 Weekly Timeframe.
So, from the data history that you can see in the chart. MA and EMA have a relation to determine the price probability for BTCUSD. The easiest way is to look up at the previous bull and bear condition. first, BTC Price would go for bullish when the BLUE LINE crossed up with the GREEN LINE (Like we see in June 2019 and July 2020). otherwise, when The BLUE LINE Crossed down with GREEN LINE, the movement price is likely bearish and try to claim the YELLOW LINE(MA 200). So, I could say if we use this Indicator as price action, BTCUSDT could be reached $20,000 - $25,000. If you said that it would reach $100K I can't say no. BUT, in the daily chart and weekly chart it said very bearish could come because of BLUE LINE(EMA 21) Crossed Down with Green Line (MA 50).
THIS Q2 2022 IS VERY RISKY TO OPEN A LONG/BUY POSITION. I PREFERRED SHORT IN THE DEMAND AREA, RATHER THAN BUY IN THE SUPPORT AREA. TIME WILL TELL.
THANKS IN ADVANCE.
