Che_Trader

BTC above all VWAP: Target +16000 SL close daily below $8400

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITSTAMP:BTCUSD

I did a detailed analysis of how the bitcoin price reacts to VWAPs formed by top or low

In 2013 when we passed the vwap from the April 2013 top we got +790%
In 2017 when we passed the vwap from the 2016 top we got +2927%
In the year 2019 when we passed the vwap from the top of 2017 upwards we got a +80% movement
In conclusion, when Bitcoin is on top of all the vwap , a major move upwards is to be expected.

And when it's below all vwap , a significant downward movement is to be expected.

At this moment we are just passing the VWAp from the top of 2019 upwards.
The reasonable target 1 in the medium term is the supply zone formed in 2017 that was not tested yet and that is approximately +80% of the current price.

The invalidation is a closing down of the accumulation formed over the 2019 vwap (lost $8400 on daily close)


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Comments

Seariosly 16k by June? That’s not gonna happen
+1 Reply
Che_Trader yippiekiaye
@yippiekiaye,

No, there are no dates.

It's just a target assumption, it can take months or it can be invalidated in a few days.

My trading style is level by level or for swing trades I use my swing bot.
Reply
I wish though
Reply
here is what I will be looking at on btcusd
Reply
Che_Trader transparent-fx
@transparent-fx,

Same level as my vwap, lets see what price doing!
Reply
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