Hello Everyone,
Making a post after quite some time. I have been spending more time in my Disc group and we have been trading there with very nice gains. Feel free to check the link below.
To start with the TA updates,
At the time of writing BTC is trading within the Golden Fib pocket with 7800 as resistance and 7184 as a possible support level. I am waiting to see the break above this fib pocket to put on some longs.
**I am currently trading with a bullish bias and my 3 reasons are as follows**
1) BTC has broken above 21EMA on Daily and 2D TF, and for now is comfortable above this key average. With the move we saw yesterday BTC did test the Daily and 2D EMA Death Cross and has not seen any major rejection.
2) Shepherd indicator had a very nice H&S formation which saw a break out and re-test of the neckline, with Shepherd now facing north and finding good support. This is a very good buy signal on Daily TF
3) Swing indicator also signaled a ‘Swing Bull’ on Daily TF, from its history this signals usually result in pretty big moves
In addition to this we also have BTC halving coming up fast, considering all this data I think BTC will make a push for ~9200 zone before the halving event.
This zone also coincides with the long-term rising trend line we see on BTC chart (Green line). I think BTC will move up and test this line soon. Whether it confirms it as a resistance or breaks above? we will see.
One thing to keep note of is, even after this move up BTC on larger picture will not do much better as I have highlighted below. If BTC to get rejected from this rising trend line then it will confirm another LH and open up the possibilities for next LL possibly below 3800. This will lead to pretty massive drop after the halving (Mid to End of May 2020)
**Conclusions**
• I have short term bullish bias which will be negated if BTC breaks below the Daily 21EMA
• BTC move possibly upto ~9200 will most likely create another LH, hence keeping overall chart bearish (if this move happens)
• 7800 is a big resistance area, if that break 9200 should be easy. And somehow if BTC breaks 9200 as well then previous high of 10200 will become next possible target
• On lower side, 6950-7000 is a very crucial support to hold, break of this zone will most likely initiate a massive drop
FYI; me and some of my disc members took spot buys from 'Whale Buy Signal' of Daily 'Trend Maker', I posted this at the time in my group. If you like this kinda updates then consider joining with link below.
You also have an opportunity to test all my indicators for free, for more info on that send a DM to me on TV or in my Disc group.
Happy and safe trading…
Chao…
Making a post after quite some time. I have been spending more time in my Disc group and we have been trading there with very nice gains. Feel free to check the link below.
To start with the TA updates,
At the time of writing BTC is trading within the Golden Fib pocket with 7800 as resistance and 7184 as a possible support level. I am waiting to see the break above this fib pocket to put on some longs.
**I am currently trading with a bullish bias and my 3 reasons are as follows**
1) BTC has broken above 21EMA on Daily and 2D TF, and for now is comfortable above this key average. With the move we saw yesterday BTC did test the Daily and 2D EMA Death Cross and has not seen any major rejection.
2) Shepherd indicator had a very nice H&S formation which saw a break out and re-test of the neckline, with Shepherd now facing north and finding good support. This is a very good buy signal on Daily TF
3) Swing indicator also signaled a ‘Swing Bull’ on Daily TF, from its history this signals usually result in pretty big moves
In addition to this we also have BTC halving coming up fast, considering all this data I think BTC will make a push for ~9200 zone before the halving event.
This zone also coincides with the long-term rising trend line we see on BTC chart (Green line). I think BTC will move up and test this line soon. Whether it confirms it as a resistance or breaks above? we will see.
One thing to keep note of is, even after this move up BTC on larger picture will not do much better as I have highlighted below. If BTC to get rejected from this rising trend line then it will confirm another LH and open up the possibilities for next LL possibly below 3800. This will lead to pretty massive drop after the halving (Mid to End of May 2020)
**Conclusions**
• I have short term bullish bias which will be negated if BTC breaks below the Daily 21EMA
• BTC move possibly upto ~9200 will most likely create another LH, hence keeping overall chart bearish (if this move happens)
• 7800 is a big resistance area, if that break 9200 should be easy. And somehow if BTC breaks 9200 as well then previous high of 10200 will become next possible target
• On lower side, 6950-7000 is a very crucial support to hold, break of this zone will most likely initiate a massive drop
FYI; me and some of my disc members took spot buys from 'Whale Buy Signal' of Daily 'Trend Maker', I posted this at the time in my group. If you like this kinda updates then consider joining with link below.
You also have an opportunity to test all my indicators for free, for more info on that send a DM to me on TV or in my Disc group.
Happy and safe trading…
Chao…
