Hi!
I would like to take a risk on the highly manipulated area and I say: "Buy low, sell high" ;)
Here comes a picture rally but hopefully You find something educational, take this post as an educational post!
A possible BUY opportunity and step-by-step trade logbook/criteria:
1. Double Bottom on the $3,500
2. RSI Divergence between two lows on $3,500 touches
3. Consistent buying after the second low was formed (with low volume obviously)
4. A 4H bullish candlestick pattern Hammer formed after the fakeout below the $3,500, it was really important that it touches some lower levels and got a rejection from there. It shows that the buyers definitely don't want to let the price down - at the moment!
5. Break above the Double Bottom neckline, it shows that the pattern is valid.
6. Break above the strong area at $3,575
7. It touched the major counter trendline and after that, it was a time to take a breath.
8. The throwback (movement downwards) was almost a perfect, to the neckline retest area and the BTC price got a bounce from there above the strong area $3,575 confirmed with 1H candle close and with 4H candle close!
9. After the bounce, we got another bullish candlestick patterns. Those are a bit unusual timeframes but hey are there, to be said that those unusual (2H, 3H, 6H, 8H etc.) timeframe candlestick patterns don't work as good as they do on the usual timeframes (1H, 4H, 1D, 1W).
2H Morning Star:
3H Hammer:
10. We have a slight breakout from bullish continuation pattern Falling Wedge:
11. Most altcoins are on the today's plus side which will support current move upwards.
The SHORT-TERM target would be $3,690:
Please, do not forget to support my effort and my idea post by hitting the "LIKE button!
Thank You very much!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
I would like to take a risk on the highly manipulated area and I say: "Buy low, sell high" ;)
Here comes a picture rally but hopefully You find something educational, take this post as an educational post!
A possible BUY opportunity and step-by-step trade logbook/criteria:
1. Double Bottom on the $3,500
4. A 4H bullish candlestick pattern Hammer formed after the fakeout below the $3,500, it was really important that it touches some lower levels and got a rejection from there. It shows that the buyers definitely don't want to let the price down - at the moment!
6. Break above the strong area at $3,575
2H Morning Star:
The SHORT-TERM target would be $3,690:
Please, do not forget to support my effort and my idea post by hitting the "LIKE button!
Thank You very much!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Comment:
"Highly manipulated area"(!!) and that is exactly the last 4H candle.
Be VERY careful if the price starts to go lower than $3,550!
Be VERY careful if the price starts to go lower than $3,550!
We got a pretty decent move upwards from a strong support level and after we made a retest the Falling Wedge upper trendline. The 1H candle close was higher than yesterday's and now we need more volume and more power to push it above the counter trendline!