Retry: Bullish divergence on Bitcoin daily Trade #0002
Posting the analysis is a bit late, I reentered but had no time to write on Tradingview. I saw the setup becoming interesting again and bought in the 32-33K area. We're above 34,8k now, best to wait on the 4H for a pullback. Otherwise the R/R ratio ain't good.
The exit target 1 is a bit higher now. The second target could be considered the same, as 40K resistance is strong.
Weekly: MACD-H is ticking up, right now, although candle is not closed. But this Timefame shows MACD Histogram is flattening
Daily:
There is a bullish divergence and a rejection candle, and this false downside breakout closed above the support line, showing that the market is not ready (yet) to go lower then 30, there is still too much buying interest over there.
The Stochastic RSI is crossing and coming from and oversold condition, and is turning bullish right now.
Interestingly, we have a bullish divergence on MACD-Histogram, as well as MACD lines, EFI AND there is also a ATR Channel divergence. This is bullish and makes me go long.
4H:
4H chart is up now and strong. Best to wait for a pullack. Afther the bullish divergence, we are at a Higher High now. At the arrow I entered this trade. Perhaps a pullback will bring us back in the lower 34K range
Entry: 34,6K (can be bought up to 33,8, so at the moment of this writing we have to wait for that first)
Exit:
1: 38,5K
2: 39,9K
SL: 31,9K
The exit target 1 is a bit higher now. The second target could be considered the same, as 40K resistance is strong.
Weekly: MACD-H is ticking up, right now, although candle is not closed. But this Timefame shows MACD Histogram is flattening
Daily:
There is a bullish divergence and a rejection candle, and this false downside breakout closed above the support line, showing that the market is not ready (yet) to go lower then 30, there is still too much buying interest over there.
The Stochastic RSI is crossing and coming from and oversold condition, and is turning bullish right now.
Interestingly, we have a bullish divergence on MACD-Histogram, as well as MACD lines, EFI AND there is also a ATR Channel divergence. This is bullish and makes me go long.
4H:
4H chart is up now and strong. Best to wait for a pullack. Afther the bullish divergence, we are at a Higher High now. At the arrow I entered this trade. Perhaps a pullback will bring us back in the lower 34K range
Entry: 34,6K (can be bought up to 33,8, so at the moment of this writing we have to wait for that first)
Exit:
1: 38,5K
2: 39,9K
SL: 31,9K