BTC/USDT Multi-Time Frame Analysis 03/11/2019

~There is beauty in simplicity.~

-Trade Based off of Data, not Emotions
-Same Input = Same Output. If you don't do the same thing consistently, how do you know what you are doing wrong?
-Patience. There will always be another trade, another setup.

BTC/USDT Weekly


Allright, a little bit of lackluster volatility last night preceeding the London Open, after closing Bitcoin's weekly candle. There was so much expectation around a massive movement around this time, and all in all, it has not delievered as expected.

Remember that saying guys, Expectation vs. Reality? Kind of like meeting your online crush in real life...generally disappointing. If not tragic.

Last week we saw Bitcoin wick down to our current level of higher time frame support at 3650. We are now in the middle of the trading range, with clear resistance overhead beginning at 4088 and stretching to 4161 (as has been the case for quite some time) and no significant support until 3650.

Nothing like being in no-man's land...it's like an episode of Thunderdome. Two coins enter...one liquidation leaves.

Weekly Time Transformation is still trending upwards, we are not in overbought territory at this time and crossing above the zero line is a classic indication to buy. Our volatility confirmation is nil, as Waddah Attar is flat and printing below the explosion level. Meaning there is not enough volume to make a trending buy worth our time. This is for a positional trade using the weekly time frame setup.


We can see our red 8 exponential acting as current weekly support, last night's volatility wicking right off of that level and currently holding. That leve is coming in at 3805 very close to the "psychological" level of 3800. Although as we move down into the lower time frames I believe 3850 is a level to watch for a close below, getting a daily close below 3800 would portent significant down-side.


Volume Profile confirms the importance of that zone, giving us our Point of Control at 3827. So being a little more aggressive seeing the daily get below that level could be our trigger for a trending sell as well.


The 3-Day is an interesting chart. Time T. is potentially going to give us a continuation bullish cross above the zero line should we close the 3-Day above 3800. We can see Waddah Attar continuing to signal for the bullish potential as well. Again, everything really comes down to that important price level.


Bearish Daily on very weak volume. Look at the complete drop-off in volume compared to our nice run up from 3400. This is weak sauce stuff guys, very difficult to trade when there's no volatility. To the patient go the spoils however, and there are ways that we can profit in a market such as this. As you are all well aware. :D


Turning to our Daily EMA's, we see more confluence on that 3800 level. Price wicked down off the daily 21 last night, concurrent with the weekly 8. However, our faster MA's remain above our deciding MA, the 55. In other words, when our 8 and 21 are above the 55, price is broadly bullish. Below, broadly bearish. The main purpose of EMA's, as I've said at length is to help determine trend. As we can see, we're moving sideways with our EMA's meaning price is in consolidation. Whether this is distribution or re-accumulation remain to be seen, and are determined by higher time frame closes above our critical levels as I've spoken aboout.

So we can see our Daily 55 come sin at 3797. So, I hope I've laid out a convincing case for which areas of support to watch on the chart.


Still in the daily Kumo Cloud, with the Tenkan acting as overhead resistance and the Kijun coming in around...wait for it...3773. Hmm, have I built a convincing case for 3,800 yet? :)


Daily Point of Control...3824. :)

Actions to Take:

Aggressively short should we close the daily below 3800. With initial targets of 3650, 3450, and 3250.

Should 3970 be re-claimed as support, we long to 4250 - 4500/4600. Nothing's changed. Trade safely. :)


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