BITCOIN - Technically a Good Entry Point & 3 Targets!
Hello followers and other TradingView users!
Straight to the action!
Entry point criteria:
1. We have historically a strong resistance which now becomes a support at $6767, the area is widened to the $6800 because there are some wicks what we may touch and from there we have to watch what the price action shows to us!
2. Fibonacci I - pulled from 22.08-28.08 retracement 38%
3. Fibonacci II - pulled from 26.08-28.08 retracement 62%
4. Fibonacci 3. - pulled from 29.07-14.08: we made a breakout on the 28.08 from 38% retracement level and now we come back and retest this area!
5. The minor upwards trendline cross with the support level = strong area - pulled from bodies since 14.08 (dotted black line)
6. EMA Party:
* 1h chart - 200EMA in this green box
* 2h chart - 100&200EMA in this box, plus we have a "death cross" earlier so, it could mean this is just a healthy pullback
* 3h chart - 100&200EMA in this box
* 4h chart - ALL OF THEM in this box 50,100&200EMA
7. Possible RSI Divergence
8. Definitely, we wait and watch the current price action in this area if we reach there
Targets (partial profit areas):
1. Around $7000 - If we don't find so much power to go higher then that's the place where we can make a lower high
2. Around $7300 - strong and historically worked levels!
3. Around $7500 - final target:
* Fibonacci pulled from 24.07-14.08
* Round number
* Trendline since 05.05
* Fibonacci extensions (entry point Fibonacci's)
* Round number and Fibonacci retracement level are just SO identical!
Hopefully, this helps You out a little bit to confirm Your own analysis! DEFINITELY, make Your own research!!
To get quick updates - click the FOLLOW button and please, don't forget to LIKE!
Thank You for your support!
Have a nice day!
Straight to the action!
Entry point criteria:
1. We have historically a strong resistance which now becomes a support at $6767, the area is widened to the $6800 because there are some wicks what we may touch and from there we have to watch what the price action shows to us!
2. Fibonacci I - pulled from 22.08-28.08 retracement 38%
3. Fibonacci II - pulled from 26.08-28.08 retracement 62%
4. Fibonacci 3. - pulled from 29.07-14.08: we made a breakout on the 28.08 from 38% retracement level and now we come back and retest this area!
5. The minor upwards trendline cross with the support level = strong area - pulled from bodies since 14.08 (dotted black line)
6. EMA Party:
* 1h chart - 200EMA in this green box
* 2h chart - 100&200EMA in this box, plus we have a "death cross" earlier so, it could mean this is just a healthy pullback
* 3h chart - 100&200EMA in this box
* 4h chart - ALL OF THEM in this box 50,100&200EMA
7. Possible RSI Divergence
8. Definitely, we wait and watch the current price action in this area if we reach there
Targets (partial profit areas):
1. Around $7000 - If we don't find so much power to go higher then that's the place where we can make a lower high
2. Around $7300 - strong and historically worked levels!
3. Around $7500 - final target:
* Fibonacci pulled from 24.07-14.08
* Round number
* Trendline since 05.05
* Fibonacci extensions (entry point Fibonacci's)
* Round number and Fibonacci retracement level are just SO identical!
Hopefully, this helps You out a little bit to confirm Your own analysis! DEFINITELY, make Your own research!!
To get quick updates - click the FOLLOW button and please, don't forget to LIKE!
Thank You for your support!
Have a nice day!
Comment:
Mentioned Fibonacci levels:
Comment:
Mentioned EMA's:
1h Chart:
2h Chart:
3h Chart:
4h Chart:
Please, don't forget to LIKE ;)
1h Chart:
Please, don't forget to LIKE ;)
Comment:
ALERT, ALERT - we are close to our box where we have to watch the price action. Any bullish candlestick pattern on the 1h+ chart, any chart pattern breakout min. into the 15min timeframe. So, watch and be patient!!
Good luck!
....and yeah the like would be also good :D thank You!
Good luck!
....and yeah the like would be also good :D thank You!
Comment:
Hello! ALMOST perfectly - In Bitfinex the bounce was from $6802 in Binance the bounce was from $6780!
Currently, we are at our first target point which is $7000:
"Targets (partial profit areas):
1. Around $7000 - If we don't find so much power to go higher then that's the place where we can make a lower high"
...and from now I try to keep You posted! If I see a sign that we may drop and if I see a signs that we may go higher!
Don't forget to hit the LIKE button and have a nice day!
Currently, we are at our first target point which is $7000:
"Targets (partial profit areas):
1. Around $7000 - If we don't find so much power to go higher then that's the place where we can make a lower high"
...and from now I try to keep You posted! If I see a sign that we may drop and if I see a signs that we may go higher!
Don't forget to hit the LIKE button and have a nice day!
Comment:
If the trend and momentum want to be a nice and sharp then we want to see small pullbacks and at the moment we got a bounce from 38% Fibonacci retracement level and from 50 EMA on the 1h timeframe. After the bounce, we got a Hammer/Dragonfly doji. So, it could be mean that we may start another leg upwards! To confirm that we have to see now at least a 1h candle close above the round number $7000.
I try to keep You posted!
I try to keep You posted!
Comment:
Hey! Just a quick update! We are very close to our second target:
“2. Around $7300 - strong and historically worked levels!”
Volume looks nice and the candles in the 4h chart are also promising! So, be ready to take out some partial profits in this price level!
All the best and have a nice weekend!
“2. Around $7300 - strong and historically worked levels!”
Volume looks nice and the candles in the 4h chart are also promising! So, be ready to take out some partial profits in this price level!
All the best and have a nice weekend!
