BTC - short-term, medium-term, and long-term trading plan
Hello, traders and investors! This is Shark, and today we'll discuss trading plans for the BTC asset.
This trading idea includes long-term, medium-term, and short-term trading plans.
Long-term plan (pink):
On the global chart, an ascending channel has formed with a 1000% step. The maximum from December 1, 2019, reached at 19666, formed support in November 2022. The asset's price is currently near the global maximum at 69000. Pay attention to the duration of previous ascending cycles: the first cycle in 2017 lasted 184 days, and the next one - 365 days in 2020. It can be assumed that the current cycle will last two or three times longer, meaning a minimum of 800 days.
Medium-term plan (blue):
Local levels are taken from the weekly timeframe - correction channel levels! The maximum of the current upward trend is 71754. The constant technical value of ATR (average true range indicator) is about 49%. After the price passes this ATR, flats and sideways movements are observed! The medium-term possible scenario is a price decline to 52884 and further growth to global highs around 183000 per bitcoin.
Short-term plan (yellow):
On the daily chart, local channels with a 49% step are visible. The price movement's ATR is within 22% - daily movement stop levels split local channels in half. It's important to note the ascending trend line drawn from the September 23 minimum - as long as the asset price remains above it, an aggressively ascending trend is maintained. A second trend line with higher amplitude is drawn, the price has repeatedly confirmed this trend and is currently near it. If the level of 60760 holds as support, a 22% rise to the global maximum of 73000 is expected, confirming the continuation of the upward trend. If the level of 60760 is breached in the coming days, the path to values of 52884 will open.
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This trading idea includes long-term, medium-term, and short-term trading plans.
Long-term plan (pink):
Medium-term plan (blue):
Short-term plan (yellow):
If you liked the overview and want more similar content - hit like! Share your opinion on this asset in the comments below!
Don't forget to subscribe to the channel to stay updated.
Thanks for watching, see you soon!
The asset is following the first scenario outlined in the idea - the level of 60760 held and the uptrend line as well!
Currently, an impulse of +6.6% is developing!
I've set a momentum level of resistance, which has confirmation at 64714! It would be desirable to see consolidation and further growth towards global levels!
On altcoins, most of them have been breaking descending trend lines, while low-liquidity assets are showing good growth... In any case, be vigilant and use proper money/risk management! History has seen even stronger impulses deflate) ... for altcoins, the priority is the upward trend.