Technical Analysis:
1️⃣СCI - above +100, needs a downward crossover to confirm the trade.
2️⃣RSI - in the 70 zone. Could go higher. A trade requires a downward breakout of 70 or some movement around 70 and a decline.
3️⃣VPVR zones - 73770, 70668, 68950, and 67180
4️⃣Fib - a 38% pullback on h4, coinciding with the end of a upward waves set on h1. Entry is possible from here, see below.
5️⃣Moving Average Crossovers/Breakthroughs - entering at the crossover of the price and 50 EMA - earlier is dangerous. The crossover of the price and 200 EMA will likely occur on increased volume - the first potential stop zone.
6️⃣Elder TF (h4) - an important Fibonacci level at 74560. The 200 EMA has been broken from bottom to top. Today will show whether this is a consolidation.
Entry, Stop, Take Profit:
🔸Entry: Sell on a breakout of 71950 + a downward price crossover of the 50 EMA. So, we're waiting for now.
🔸Stop: Preliminary 38.2% Fibonacci h4 = 74560. Moving stop order at entry point after the 200 EMA is reached.
🔸Take Profit: TP = 62510. There's a chance the trade won't reach this level and will be stopped by one of the higher-volume levels.
🔸Risk/Reward: 3.7 for the final take profit, but could be lower depending on the chart configuration at the time of entry.
🔸Execution: within a week (possibly longer)
Cancellation
🔸If we break over 74,560, the further growth is quite likely. Perhaps not straight to 79,000, but it's possible. If there's no return below 74,560, the trade will need to be reconsidered. Waiting for now.
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What do you think about the future price of Bitcoin? Leave your opinion in the comments.
PS. Do you find a detailed fundamental analysis in the idea posts helpfull, like there were last week? Please let me know in the comments.
1️⃣СCI - above +100, needs a downward crossover to confirm the trade.
2️⃣RSI - in the 70 zone. Could go higher. A trade requires a downward breakout of 70 or some movement around 70 and a decline.
3️⃣VPVR zones - 73770, 70668, 68950, and 67180
4️⃣Fib - a 38% pullback on h4, coinciding with the end of a upward waves set on h1. Entry is possible from here, see below.
5️⃣Moving Average Crossovers/Breakthroughs - entering at the crossover of the price and 50 EMA - earlier is dangerous. The crossover of the price and 200 EMA will likely occur on increased volume - the first potential stop zone.
6️⃣Elder TF (h4) - an important Fibonacci level at 74560. The 200 EMA has been broken from bottom to top. Today will show whether this is a consolidation.
Entry, Stop, Take Profit:
🔸Entry: Sell on a breakout of 71950 + a downward price crossover of the 50 EMA. So, we're waiting for now.
🔸Stop: Preliminary 38.2% Fibonacci h4 = 74560. Moving stop order at entry point after the 200 EMA is reached.
🔸Take Profit: TP = 62510. There's a chance the trade won't reach this level and will be stopped by one of the higher-volume levels.
🔸Risk/Reward: 3.7 for the final take profit, but could be lower depending on the chart configuration at the time of entry.
🔸Execution: within a week (possibly longer)
Cancellation
🔸If we break over 74,560, the further growth is quite likely. Perhaps not straight to 79,000, but it's possible. If there's no return below 74,560, the trade will need to be reconsidered. Waiting for now.
----------
What do you think about the future price of Bitcoin? Leave your opinion in the comments.
PS. Do you find a detailed fundamental analysis in the idea posts helpfull, like there were last week? Please let me know in the comments.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.