CRYPTO of the week: BTCUSD reached expected level...
BTCUSD 4H UPDATE - 13/05/2018
Still too early to call cycle from 9,939.69 high ended but 1h sequence from 9,393.00 high is called completed at 8,208.81 low right into equal leg area.
Buyers from 8418.64 will protect their position when we see 8,800ish as we need a break above 9,393.00 and more importantly 9,939.69 to call green 2 ended. Indeed, a double correction is totally possible, and if it happens I will buy again lower. But as usual, one step as a time.
I will monitor RSI trendline to be broken to the upside to call cycle and correction ended.
Invalidation level to the upside is 6,427.16 in 4h
Invalidation level to the downside is 9,939.69 in 4h
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 13/05/2018-19/05/2018, I propose BTCUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Still too early to call cycle from 9,939.69 high ended but 1h sequence from 9,393.00 high is called completed at 8,208.81 low right into equal leg area.
Buyers from 8418.64 will protect their position when we see 8,800ish as we need a break above 9,393.00 and more importantly 9,939.69 to call green 2 ended. Indeed, a double correction is totally possible, and if it happens I will buy again lower. But as usual, one step as a time.
I will monitor RSI trendline to be broken to the upside to call cycle and correction ended.
Invalidation level to the upside is 6,427.16 in 4h
Invalidation level to the downside is 9,939.69 in 4h
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 13/05/2018-19/05/2018, I propose BTCUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
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