BITCOIN WAITING FOR NEXT BIG MOVE! Long & Short Entries!
Bitcoin is in an indecision zone right now and we will need to see how price action evolves to see which direction the price is likely to head. What we can do now is to prepare for the possible scenarios so that we have a plan of action regardless of which way price moves.
On the 15Min TF, price has broken above the 200MAs and if price comes back down to test the 200MAs at 33.2 and holds, then I will be looking for a potential long trade. The one thing that I am a bit concerned about is that there isnt a lot of space between the current swing high and the 200MAs. Ideally I would like to see move spacing so that there is more room for price to rally before hitting the first resistance/swing high.
On the 1H timeframe, price is actually heading up to test the 200MAs as resistance at 34K. If price gets rejected here, then I will be looking for a potential short.
s3.tradingview.com/s...shots/k/kxx4OsD4.png
Given that the 15Min and 1H timeframes are giving us potentially opposing signals and could potentially be in the way of any trade entry (ie. 15min support in the way of 1H short or 1H resistance in the way of 15Min long), I would want to see extra strong volume to confirm the move for me to enter a trade.
Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins.
Why follow?
1. Community of Technical Analysts sharing analysis and trades
2. Live tracking of whale wallet movements
3. Live update of the latest important news
4. Live syncing of popular crypto tweets
5. Ebook covering how to be profitable in the cryptocurrency market
As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
On the 15Min TF, price has broken above the 200MAs and if price comes back down to test the 200MAs at 33.2 and holds, then I will be looking for a potential long trade. The one thing that I am a bit concerned about is that there isnt a lot of space between the current swing high and the 200MAs. Ideally I would like to see move spacing so that there is more room for price to rally before hitting the first resistance/swing high.
On the 1H timeframe, price is actually heading up to test the 200MAs as resistance at 34K. If price gets rejected here, then I will be looking for a potential short.
s3.tradingview.com/s...shots/k/kxx4OsD4.png
Given that the 15Min and 1H timeframes are giving us potentially opposing signals and could potentially be in the way of any trade entry (ie. 15min support in the way of 1H short or 1H resistance in the way of 15Min long), I would want to see extra strong volume to confirm the move for me to enter a trade.
Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins.
Why follow?
1. Community of Technical Analysts sharing analysis and trades
2. Live tracking of whale wallet movements
3. Live update of the latest important news
4. Live syncing of popular crypto tweets
5. Ebook covering how to be profitable in the cryptocurrency market
As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
