BITCOIN - GREEN ASCENDING CHANNEL HOLDING UP!?!? What's Next?
Happy Money Money, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin continues to trade below its 50D MA, and is on the edge the cliff at this time of writing.
Bitcoin is at the Green Ascending Channel and if this channel holds as support (as it did since the 22nd of January 2022) Bitcoin may then go about its bullish agenda.
So, what am I expecting to happen next?
FIRST of all, Bitcoin MUST bounce off the Yellow Extended Line and from the Green Ascending Channel else it will dip towards $37,716.
And if Bitcoin dips below and closes this week below $37,716 it will break a weekly candle market structure, and will more than likely make price fall further. And I'm looking at $35.5K as the first target past $37,716.
There's only 12 Days left before the month of April comes to a close and as the saying goes "Sell In May And Go Away!" If this comes to fruition, we could see another $32K Bitcoin. At that price, capitulation might ensue and further price drop may happen.
On a bullish note, if Bitcoin pushes past its 50D MA, the RDC and the Blue Horizontal Resistance Bar then I'm expecting to see Bitcoin go back up towards the $53K to $55K.
MACD (4Hr TF): Currently, there appears to be bullish divergence forming on the MACD against price action. But watch the Green Trend Line on the MACD, Bitcoin descending further down will break the trend line on the MACD disregarding any bullish divergences including that currently drawn since the 3rd week of January 2022.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin continues to trade below its 50D MA, and is on the edge the cliff at this time of writing.
Bitcoin is at the Green Ascending Channel and if this channel holds as support (as it did since the 22nd of January 2022) Bitcoin may then go about its bullish agenda.
So, what am I expecting to happen next?
FIRST of all, Bitcoin MUST bounce off the Yellow Extended Line and from the Green Ascending Channel else it will dip towards $37,716.
And if Bitcoin dips below and closes this week below $37,716 it will break a weekly candle market structure, and will more than likely make price fall further. And I'm looking at $35.5K as the first target past $37,716.
There's only 12 Days left before the month of April comes to a close and as the saying goes "Sell In May And Go Away!" If this comes to fruition, we could see another $32K Bitcoin. At that price, capitulation might ensue and further price drop may happen.
On a bullish note, if Bitcoin pushes past its 50D MA, the RDC and the Blue Horizontal Resistance Bar then I'm expecting to see Bitcoin go back up towards the $53K to $55K.
MACD (4Hr TF): Currently, there appears to be bullish divergence forming on the MACD against price action. But watch the Green Trend Line on the MACD, Bitcoin descending further down will break the trend line on the MACD disregarding any bullish divergences including that currently drawn since the 3rd week of January 2022.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Comment:
Comment:
Bitcoin bounces off the Green Ascending Channel and Yellow Extended Line.
Let's see if price will continue to push higher.
Let's see if price will continue to push higher.
