Alleyz Bitcoin Analysis[24.1.23 Tue AM 8:07 UTC-0]
BTCUSDT.P
Main Technical Trading Method -
* Dow Theory - Have to breaking out high point or breaking down of low point
* Average True Range - Volatility
* MACD - Convergence and Divergence of Between12MA and 26MA
* Stoch RSI - Relatively Low Point Timing and Relatively High Point
* Bollinger Bands - Using STD3 and Price boundary have to in that area
* Stock to Flow Model - Valuation of Bitcoin
* Fibonacci - Primary Level Point
* Fixed Range Volume Profile - Primary Point of Control
Main View -
* Fibo Tracement -
0.382 - 39.7K
0.5 - 36.9~37K
0.618 - 34.1K
After SEC has agreed Bitcoin ETF, Prices are complicated and Players sell what they have before
From Now on, The Bitcoin Price touched Top of Up Channel that level is also 0.382 Fibo Level
We have to check if it supports 0.382 level, you can think pull-back of Motive Wave (Long Positioning Mind)
but, it breaks down level and goes to lower level of Fibo(Short Position Mind), you can think that pull-back of the Wave has not finished
Strategy 1 -> after Fibo Retracement 0.382 and Re-Going up at least 49K
Strategy 2 -> Fibo Retracement 0.5(36.9K) , 0.618( 34K ) and Power Resistance Level ( 31.5K )
Support and Resistance Level
* Resistance Level
Power Layer - 40.2K ~ 40.5K
* Support Level
Power Layer - 31.5K ( It's -31% draw down after 49K, Up Channel Bottom )
Strategy 1 -
After Checking that Price goes resistance level of Power Layer and assuming that it's pull-back
last level is 0.382, you can take Long position at 39.7K
* Trading Set up
Risk / Reward Ratio = 15 ~ 20
15% ~ 20%(49K) , Loss - 1% (0.382 Fibo Support Level)
Adjust Trailing Stop 2% after it is higher than 9%
Strategy 2 -
Assuming that you just think there is still room for Short Trend, We can take Short Position at
Breaking down of 0.382 Fibo Level ( 39.6K~39.7K)
* Primary Fibo level
0.5 - 36.9~37K
0.618 - 34.1K
* Trading Set up
Risk / Reward Ratio = 7 ~ 14
Profit - 7% ~ 14% , Loss - 1%
Adjust Trailing Stop 2% after it is higher than 4%
My Trading Set up
I'll do Long Position which Strategy is Number 1, but if it touches stop loss, Than i'll re-think of My Strategy
This is just My Strategy about BTC/USDT.P
You just use one of the References of Analysis
Good Luck Guys!!
