If we look at the 4H chart, we will see a local downtrend. The price dropped below the local uptrend line, SMA100, and SMA200. We have lower swing highs and lows.
The market gives us a trend reversal signal based on a bullish divergence. If the price breaks the local downtrend line, it will give us a new buy opportunity. Stop orders for long trades should be placed below 3.70 support. The main profit target should be at 5.50 resistance. The part of the trade volume can be left for the long run.
RSI confirmed the price reversal, and now it is bullish. MACD lines and histogram support a further upward movement. DMI does not confirm the strength of sellers.
If Bitcoin does not drop, this buy signal will be able to become profitable. What do you think?
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
there is a very thin line in the market current, a direction is imo imminent.
bavoire
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essentially BTC has to kill 10110 area to escape out of the still small bullflag its created, a lot of other coins like this 1 have already reached the border, prerunning the possible BTC move, tricky zone current, but I agree here, the possibility is given.
trade-crypto4ever
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I just want to let you know how much I appreciate your work. Keep it going!
DLavrov
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@trade-crypto4ever, thanks a lot for your comment! It is a good motivation!
trade-crypto4ever
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@DLavrov, I am grateful for the information I get from your trading ideas and you deserve much more appreciation, but people jump from an idea to another very fast!
KinkoHyoTrading
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but there is no cash coming in ... I think we are looking for a down to at least to 3.4756.
Anyway I hope ur trade will be profitable for u
DLavrov
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@BabasNumbaOne-Ichimoku-Experts, Do you know when BTC will move upward?
If not, we can't ignore signals.
Yes, sure, the price can move lower, but it is a buy signal and it is not my wish to buy. The market gives us a buy signal and it is a fact. How to use it, everyone should decided following their trading plan.
KinkoHyoTrading
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@DLavrov, Btc will go down and test around 9100, if no support 8480 $ if no support, massive support will be at around 8200$ ... but for now, look at BTC in monthly TF and you will see it ...