With 67days of descending volume on the daily time frame, price is giving a signal that it is gradually taking a direction.
On the daily time frame, the price chart of BTCUSD will be analysed with the use of an indicator called THE BOLINGER BANDS(BB).
The BB is used to identify high probability trading entry. There are 5 main signals while using BB, they are all...
Hi there ! We post the next possible trading opinion to cotton CT1! which is possible after the terrible decline which took place this week after the escalated tensions of the trade war between U.S - China. As you see the diagram in daily timeframe the possible target price is at the level of the median BB. This bounce is also confirmed by the RSI. Also farmers...
-ATR Shows market panic sells chain reaction causing 3x more volatility
-200MA Still bullish
-Showing nice wick rejection, which indicates strong buy power from here.
-Overbought cloud breakout, which indicates a reversal
-Parabolic SAR still bearish but due to what i mentioned above, it will turn Bullish again.
What caused this huge spike?
REENTRY FOR SHORT
2. EMA50 show downtrend
Course of action
1. Wait at the targeted zone to re-entry Sell. (FIBO pull from m15)
2. Will enter if full setup has been showned
3. Sl @ 1.31195
H4 Candlestick momentum showing that the price is strong for short
lets ride the wave with good risk reward ration.
wait for the price to enter MAHIGH and enter a short position with SL is slightly higher @ major resistance line
I"m going to spare the wall of text.
If you can read a chart you get it.
Caveat for new traders: You can not predic the future, only examine the past. This is a Bolinger analysis combind with Trend Lines and an over sold RSI potential on the daily. My perspective, should not be your perspective. This is only how I see it. Breakout will go up or down....
Look at the current situation with BTC. The price of BTC is $7656, slightly above EMA21 ($7628) and EMA50 ($7601). Also local upward trend support is located there. Strong supports, so I believe that BTC will retest the upper resistance of the ascending triangle at the price around $7750. But, now I'm not sure we'll go even higher.
If we look at BTC, It forms...
Another successful day for BTC. The Price $9800 was reached and $10.000 is already a bit above us.
So when are we going to try to break through this level? Of course, it can happen at any time, 10K resistance is a very awaited moment and bulls want to get through this level. If BTC manage it, it will be strong bullish trend confirmation.
More advantageous for...