I will keep it short and sweet. All the confirmation signals to determine whether it's now in the bull run or we are still lost in the wood.
In brief, thanks to the pump last night, things are looking kinda positive again after more than 3 weeks of the red sea in the crypto space
There are indeed bullish signals on multiple independent indicators including RSI, OBV, MACD, Trendline (bull flag formation), Candle stick patterns
BTC is having a series of higher high and higher low in 15m, 30m and 2h chart which is a pretty good bullish signal as more price action towards the buy than the sell
The potential formation of a bull flag thanks to the pump and the series of higher high and higher low as above on 15m chart.
MACD is looking beautifully bullish on 15m and 30m chart
A reversal of 8, 13, 21 and 55 EMA in which 55EMA is at the bottom. Why 8, 13, 21 and 55? Because this will align with Fibonacci analysis which increases the accurate rate of TA
What requires not to be a bull trap
BTC needs another consolidation or strong upward price action (The green rectangle) on the bull flag to reach 7800.
MACD needs to be bouncing against the support upward trendline to discourage the bears.
- Stronger OBV on the 15m and 30m chart.
RISK TO CONSIDER
- Some of the bullish confirmation signals and observation in this TA are based on short time frame (10m to 45m) as subject to find early signal and take price advantages. However, shorter timeframe also comes with higher volatility level. Therefore, things can be upside down. This highly depends on individual risk preference in taking trades
- Market manipulation as we all can see in May. This has been happening at an increasing rate. Therefore fake bullish signals still can be a possible case in this pump.
How to mitigate volatility risks
- Swing trade can set a loose tolerate stop loss or set ladder price below 7000
- Day trade needs to be tight with risk tolerance and set stop loss closer to the entry price.
Hope this helps, give me a thumbs up and follow me for more update
Disclaimer
I am not a financial adviser, as always, trading is a probability game. Taking risk and reward into consideration according to your own personal risk preference.
In brief, thanks to the pump last night, things are looking kinda positive again after more than 3 weeks of the red sea in the crypto space
There are indeed bullish signals on multiple independent indicators including RSI, OBV, MACD, Trendline (bull flag formation), Candle stick patterns
BTC is having a series of higher high and higher low in 15m, 30m and 2h chart which is a pretty good bullish signal as more price action towards the buy than the sell
The potential formation of a bull flag thanks to the pump and the series of higher high and higher low as above on 15m chart.
MACD is looking beautifully bullish on 15m and 30m chart
A reversal of 8, 13, 21 and 55 EMA in which 55EMA is at the bottom. Why 8, 13, 21 and 55? Because this will align with Fibonacci analysis which increases the accurate rate of TA
What requires not to be a bull trap
BTC needs another consolidation or strong upward price action (The green rectangle) on the bull flag to reach 7800.
MACD needs to be bouncing against the support upward trendline to discourage the bears.
- Stronger OBV on the 15m and 30m chart.
RISK TO CONSIDER
- Some of the bullish confirmation signals and observation in this TA are based on short time frame (10m to 45m) as subject to find early signal and take price advantages. However, shorter timeframe also comes with higher volatility level. Therefore, things can be upside down. This highly depends on individual risk preference in taking trades
- Market manipulation as we all can see in May. This has been happening at an increasing rate. Therefore fake bullish signals still can be a possible case in this pump.
How to mitigate volatility risks
- Swing trade can set a loose tolerate stop loss or set ladder price below 7000
- Day trade needs to be tight with risk tolerance and set stop loss closer to the entry price.
Hope this helps, give me a thumbs up and follow me for more update
Disclaimer
I am not a financial adviser, as always, trading is a probability game. Taking risk and reward into consideration according to your own personal risk preference.