WEEK 04: Bitcoin - what to expect this week?
I have outlined for you keys areas S/R level what to watch during the next week in Bitcoin. The main point here is, you can use these key s/r levels for your own benefits and for swing plays because there are wide enough and will also provide you enough time to figured it out if there is the reclamation of support or resistance, because we are at H2 time frame.
The overall price is stuck between three main ranges $7200-$8200-$9400.
As you can see we had some rejection at $9125, if you are looking for shorts, you wanna see clear rejection at $8850 followed by sell-off and taking profits at $8050 area and watching if there will be enough strength for longs or holding your shorts to the next lower key areas.
For me ideal scenario would be for longs if $9100 will be reclaimed as support, then I will add into my spot and long in futures. Otherwise, I will short it at $8600-8900 down to $8300-8000 and see reaction down there. If there will be not any strength at support, then I will add into my shorts once level will be reclaimed as resistance and will see or reaction of another support at $7,800 - $7500 and so on.
Remember that Bitcoin is not in an uptrend on the higher time frame yet. For me, the HTF Bullish would be close weekly above $9400. Yes, I was long in this +40% ride and I have enjoyed it and I do not have a problem change my bias from HTF Bearish into Bullish once $9400 will be reclaimed (still following my published idea 2020 Bitcoin Strategy).
The overall price is stuck between three main ranges $7200-$8200-$9400.
As you can see we had some rejection at $9125, if you are looking for shorts, you wanna see clear rejection at $8850 followed by sell-off and taking profits at $8050 area and watching if there will be enough strength for longs or holding your shorts to the next lower key areas.
For me ideal scenario would be for longs if $9100 will be reclaimed as support, then I will add into my spot and long in futures. Otherwise, I will short it at $8600-8900 down to $8300-8000 and see reaction down there. If there will be not any strength at support, then I will add into my shorts once level will be reclaimed as resistance and will see or reaction of another support at $7,800 - $7500 and so on.
Remember that Bitcoin is not in an uptrend on the higher time frame yet. For me, the HTF Bullish would be close weekly above $9400. Yes, I was long in this +40% ride and I have enjoyed it and I do not have a problem change my bias from HTF Bearish into Bullish once $9400 will be reclaimed (still following my published idea 2020 Bitcoin Strategy).
Comment:
We have set up Discord for our community and here is a link:
discord.gg/3myy2DB
Please join and enjoy staying there
What is there?
- swings setups + live management of these setups
- weekly reviews
- requests charts for particular coins
discord.gg/3myy2DB
Please join and enjoy staying there
What is there?
- swings setups + live management of these setups
- weekly reviews
- requests charts for particular coins
Comment:
Watching closely our key level at $9150, if we will close above that level H2 then I am flipping into longs with targets $9400 - 9600 - 10 000
Telegram: t.me/ADA_Public
Twitter: twitter.com/trader_ada