Hello everyone this is my idea for Bitcoin on 4 hour time frame same time there is another structure folding on daily time frame below ..
On 4 hour time frame price has tested the green line trend line multiply times and every time price bounced ..
However last week price has closed below the trend line before market closed ... and price pushed above the trend line
with very low volume in week end .. I don't normally trust this move ..
Right now we are still in a choppy zone .. and we try to make a plan on how to trade bitcoin .. we try to keep it simple as much as we can so we don't get stuck or emotionally stressed :)
Keep it simple guys ...
For Bulls .. you wanna be a buyer from green line target red line .. stop loss is 4 hour candle close below red line
If Price closed above red line we can make a new high as long as red line hold as support no 4 hour candle close below red line
For Bears .. you wanna sell from red line target green line .. stop loss 4 hour candle close above red line ..
If price close below green line we can target zones below .. as long as price don't get back above green line ( that's our stop )
same time RSI is ranging between red and green line .. for bulls don't want green line to break .. for bears red line to break ..
On daily time frame .. we could have a possible head and shoulder pattern folding same time price is testing a broken RSI uptrend
support line .. can we get reject hard like last time ? as show in the chart ...
for any question feel free to ask guys :) good luck as in the picture and link below
On 4 hour time frame price has tested the green line trend line multiply times and every time price bounced ..
However last week price has closed below the trend line before market closed ... and price pushed above the trend line
with very low volume in week end .. I don't normally trust this move ..
Right now we are still in a choppy zone .. and we try to make a plan on how to trade bitcoin .. we try to keep it simple as much as we can so we don't get stuck or emotionally stressed :)
Keep it simple guys ...
For Bulls .. you wanna be a buyer from green line target red line .. stop loss is 4 hour candle close below red line
If Price closed above red line we can make a new high as long as red line hold as support no 4 hour candle close below red line
For Bears .. you wanna sell from red line target green line .. stop loss 4 hour candle close above red line ..
If price close below green line we can target zones below .. as long as price don't get back above green line ( that's our stop )
same time RSI is ranging between red and green line .. for bulls don't want green line to break .. for bears red line to break ..
On daily time frame .. we could have a possible head and shoulder pattern folding same time price is testing a broken RSI uptrend
support line .. can we get reject hard like last time ? as show in the chart ...
for any question feel free to ask guys :) good luck as in the picture and link below