Bitcoin Short-term (1H Timeframe) What about the short-term, wh Long

Bitcoin / U.S. dollarBitstamp

Description

⋅ Jan 25, 2022 12:33 PM

What about the short-term, when will Bitcoin recover?

We can't say when Bitcoin will recover or not but we can easily read the chart.

Here we have Bitcoin on the 1H timeframe, so this chart can move fast.

First, we have the "V bottom" pattern marked yellow on this chart. This is a good starting point.

Once this pattern showed up we also have really high volume and a long upper shadow on a candle that hit $38,050, this can be a good reversal signal.

So we have a strong bounce on high volume with bullish indicators.

Currently, prices are sitting above EMA10 and below EMA100.

EMA100 is the next immediate resistance.

Any trading above the "V bottom" low and "support" zone we are bullish. You can expect higher prices above this level.

If support breaks, we expect lower prices.

Additional details on the chart.

Namaste.

Comments

smackman

⋅ Jan 25, 2022 1:15 PM

Hi Alan, Thank you so much for your clear insights. Could you tell us which 3 EMA's and MA you are using in your setup? Also which indicators do you prefer? Would love to learn more about your style! 🙏🏻

Namasté brother.

AlanSantana

⋅ Jan 25, 2022 1:17 PM

@smackman, EMA10 (green) /21 (light blue) /50 (magenta) /100 (blue) /300 (grey) and MA200 (black).

RSI, MACD, Volume, TD Sequential.

smackman

⋅ Jan 25, 2022 1:26 PM

@AlanSantana, much appreciated!!

AlanSantana

⋅ Jan 25, 2022 1:18 PM

@smackman, Chartting techniques:

- Candlestick
- EW
- Renko

smackman

⋅ Jan 25, 2022 1:26 PM

@AlanSantana, 🙏🏻