Trade Pair: BTC.USD Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Long
Additional Information: I personally don't day trade crypto currencies given the spread and stops, this is for those who are a little more aggressive in their entries.
BTC.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
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Bitcoin - The breakout.
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Bitcoin - $8,900
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Bitcoin - The Reversal.
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Price is now approaching the 38.20% Fibonacci retracement, some form of deceleration is required..
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Nice clean rejection + Acceleration. As stated from @magicos there is bearish 1hr divergence, however this is only 1 negative in a check list of positives.
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Price has consolidated too deep in my opinion for a day trading opportunity, there would be a lack of structure to base a stop loss and this would then exceed my risk tolerance.
4h RSI and MACD are still in hidden bullish divergence channel from 12 May, with yesterday's RSI downtrend channel breakout, with today 2x EMA50 rejections. For me there is higher chance for going up
UnknownUnicorn180388
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@vascco, I agree :-)
Xavier91
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@tomhall, what is the target?? 8900?i see great resistance at 8600 level
xuanhaimmoer
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My chart in 1 month ago and continuing active:
siht84
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@xuanhaimmoer, Are you really posting this at every other TA chart. Get out!
xuanhaimmoer
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@siht84, it is my opinion, so you can do that, depend on you.
Techmology
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@xuanhaimmoer, Guess it's time to start back on your charts again with evidence of your failures before they fail
Techmology
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@xuanhaimmoer, I also remember this was the alteration to your bias of your epic failures a month ago when BTC went 7k the opposite of your "opinion"
Techmology
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@xuanhaimmoer, Key word everyone, "Opinion". Evidence based conclusions are not necessary for one.
kardia
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You want to beat the bears? Then don't buy their coins. Force them to hold their bags. Prices will gradually increase, and shorts using leverage will be stopped out of their trades. In other words, they will lose. We cannot beat these guys as long as we continue to buy their bags. They laugh when we lose. Don't buy their coins!