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WE are looking at possible Scenarios in the BTC move in the Daily Chart.
1st of all Remember we are in the Golden Cross where 50DMA crossed above the 200DMA.
As we can see the moves are widening so much with doubts in the market and fear of some swing traders to go LONG because of 0.618 Fib. Retracement of 8k$.
In the past few days many are looking for a downward movement down to 8k$ but KEY SUPPORT LEVEL of 8500$ are holding still with the support of 200DEMA and price still inside the ICHI Cloud still holding its momentum for a pullback.
In the past few Weeks when BTC price moves upward to 10500$ many are looking for 12K$ even up more to 14K$ where many losses their trades not considering the Fib. Retracement of 100% and creating a CUP pattern where we can expect a pullback to create the HANDLE to complete the pattern.
NOW, what we to consider?
Buyers and Sellers are both in the move so we can see different angles of possible movements.
RSI and MACD still in downtrend
Trading Volume Low
Watch out always for the KEY SUPPORT & RESISTANCE LEVEL.
DEMA holds as Support Zone that affects the price moving downward.
If you want to go LONG with Long Term Trade you have to wait for the 618 Fib. moving pullback and buy.
Always remember DYOR before entering into Trades.
Have your own Analysis.
Remember:
1. Trade with a Plan
2. DYOR
3. Make your own Analysis
4. Do Make Capital Control Management - do not put all your capital
5. Have a Risk Control Management - set STOP LOSS during Trades minimizing your losses
6. Trade Wisely & Emotionless
SET CAPITAL MANAGEMENT @ 10-20% OF THE CAPITAL ONLY
STOP LOSS @ 30 - 50% losses
Put TRAILING STOP and adjust from time to time to secure gains.
This is my TA if you support and want to use it on Trade kindly have you own research first.
Thanks for reading.
GOD BLESS!
#BITCOINORAGONCOACH
Kindly Follow me on my Tradingview Account.
WE are looking at possible Scenarios in the BTC move in the Daily Chart.
1st of all Remember we are in the Golden Cross where 50DMA crossed above the 200DMA.
As we can see the moves are widening so much with doubts in the market and fear of some swing traders to go LONG because of 0.618 Fib. Retracement of 8k$.
In the past few days many are looking for a downward movement down to 8k$ but KEY SUPPORT LEVEL of 8500$ are holding still with the support of 200DEMA and price still inside the ICHI Cloud still holding its momentum for a pullback.
In the past few Weeks when BTC price moves upward to 10500$ many are looking for 12K$ even up more to 14K$ where many losses their trades not considering the Fib. Retracement of 100% and creating a CUP pattern where we can expect a pullback to create the HANDLE to complete the pattern.
NOW, what we to consider?
Buyers and Sellers are both in the move so we can see different angles of possible movements.
RSI and MACD still in downtrend
Trading Volume Low
Watch out always for the KEY SUPPORT & RESISTANCE LEVEL.
DEMA holds as Support Zone that affects the price moving downward.
If you want to go LONG with Long Term Trade you have to wait for the 618 Fib. moving pullback and buy.
Always remember DYOR before entering into Trades.
Have your own Analysis.
Remember:
1. Trade with a Plan
2. DYOR
3. Make your own Analysis
4. Do Make Capital Control Management - do not put all your capital
5. Have a Risk Control Management - set STOP LOSS during Trades minimizing your losses
6. Trade Wisely & Emotionless
SET CAPITAL MANAGEMENT @ 10-20% OF THE CAPITAL ONLY
STOP LOSS @ 30 - 50% losses
Put TRAILING STOP and adjust from time to time to secure gains.
This is my TA if you support and want to use it on Trade kindly have you own research first.
Thanks for reading.
GOD BLESS!
#BITCOINORAGONCOACH
Kindly Follow me on my Tradingview Account.