Hello. My name is Danny Cooper. This is my first time writing in a tradingview.
I am a trader who analyzes based on indicators such as ichimoku cloud and bolinger band, so I will share a short-term bitcoin market analysis.
This is BitMex Monthly Chart.
November has passed and December is the last month of 2019.
November is again the closing of the black-body candle, and I think we've reached an important milestone where a long-term decline can lead to a long time ago.(Nov. 2018 ~ April. 2019)
This section is located near the thin section of cloud support, which is displayed as an arrow on the chart. If this section is breaked, this year can continue a long-term downward trend.
20MA (located at 6856), but it's in jeopardy.
Next, Weekly Chart.
Bitcoin with cloud support in 6.5K goes dead-cat bounce. But, referring to Lagging Span(Green line), If bitcoin confirms 7.6K resistance zone, maybe price will further decrese.
Daily Chart.
It's just down the Conversion Line(skyline, 7193) and it's falling without reaching the 20MA (7.8K) the Base Line(brown line, near 8K).
4Hr Chart.
After falling to 7.2K, it is facing resistance near the Base Line (brown line, 7350), and Lagging Span is also facing resistance in the lower part of the cloud. If the next 4Hr candle is below closing 7350, there will be a further decline.
1. Based on Monthly Chart, let's keep an eye on the 20MA as a turning point to determine whether to continue the long-term decline or to continue the upward.
2. In the flow of chart, an additional drop is inevitable if 7.6K is confirmed as a resistance zone.
In the short term, if the 4Hr candles closes several times below 7350, keep in mind the further decline.
Thank you for reading this trading idea.
This idea is about sharing my point of view and not encouraging you to invest.
I am a trader who analyzes based on indicators such as ichimoku cloud and bolinger band, so I will share a short-term bitcoin market analysis.
This is BitMex Monthly Chart.
November has passed and December is the last month of 2019.
November is again the closing of the black-body candle, and I think we've reached an important milestone where a long-term decline can lead to a long time ago.(Nov. 2018 ~ April. 2019)
This section is located near the thin section of cloud support, which is displayed as an arrow on the chart. If this section is breaked, this year can continue a long-term downward trend.
20MA (located at 6856), but it's in jeopardy.
Next, Weekly Chart.
Bitcoin with cloud support in 6.5K goes dead-cat bounce. But, referring to Lagging Span(Green line), If bitcoin confirms 7.6K resistance zone, maybe price will further decrese.
Daily Chart.
It's just down the Conversion Line(skyline, 7193) and it's falling without reaching the 20MA (7.8K) the Base Line(brown line, near 8K).
4Hr Chart.
After falling to 7.2K, it is facing resistance near the Base Line (brown line, 7350), and Lagging Span is also facing resistance in the lower part of the cloud. If the next 4Hr candle is below closing 7350, there will be a further decline.
1. Based on Monthly Chart, let's keep an eye on the 20MA as a turning point to determine whether to continue the long-term decline or to continue the upward.
2. In the flow of chart, an additional drop is inevitable if 7.6K is confirmed as a resistance zone.
In the short term, if the 4Hr candles closes several times below 7350, keep in mind the further decline.
Thank you for reading this trading idea.
This idea is about sharing my point of view and not encouraging you to invest.