BITCOIN - PRINTING A NEW HIGHER LOW?? What's Happening Next
Happy Thirsty Thursday, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
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Bitcoin pushed towards the 200D MA and got rejected, but finally respected the Green Ascending Channel as support.
Bitcoin has yet created another Higher Low (Very Bullish)... or has it really?
So, what am I expecting to happen next?
FIRST of all, Bitcoin MUST push up past its 50D MA, and if it does that the Red Descending Channel (RDC), along with the Blue Horizontal Bar, will be resistance.
If Bitcoin pushes past both resistances, the next hurdle is the 200D MA again, but more than likely Bitcoin will slice through it when it meets it again and when that happens, the expected upside price target will be $51K.
Bitcoin dipping and closing the week below $37,716 (will break a weekly candle market structure), and will more than likely make price fall further.
And I'm looking at $35.5K as the first target past $37,716.
MACD (4Hr TF): Watch the Green Trend Line, Bitcoin descending further down will break the trend line on the MACD disregarding any bullish divergence it has made since the 3rd week of January 2022.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin pushed towards the 200D MA and got rejected, but finally respected the Green Ascending Channel as support.
Bitcoin has yet created another Higher Low (Very Bullish)... or has it really?
So, what am I expecting to happen next?
FIRST of all, Bitcoin MUST push up past its 50D MA, and if it does that the Red Descending Channel (RDC), along with the Blue Horizontal Bar, will be resistance.
If Bitcoin pushes past both resistances, the next hurdle is the 200D MA again, but more than likely Bitcoin will slice through it when it meets it again and when that happens, the expected upside price target will be $51K.
Bitcoin dipping and closing the week below $37,716 (will break a weekly candle market structure), and will more than likely make price fall further.
And I'm looking at $35.5K as the first target past $37,716.
MACD (4Hr TF): Watch the Green Trend Line, Bitcoin descending further down will break the trend line on the MACD disregarding any bullish divergence it has made since the 3rd week of January 2022.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Comment:
2022-04-18 Chart Update:
