We've been on a downward channel since March 2018. Yesterday, we probed through the top into the previous gap and we also took out the monthly R3 price.
We have had higher lows (HL) and higher highs (HH) since beginning of 2019 on the Daily. Yesterday gave us another HH. THis important HH on May 30 also confirmed the trend change from the last low price in...
Same set-up as my other post on the Weekly, but this is Daily.
1- We have a strong level
2- We have divergence
3- We have heavy volume picking up compared to the previous volume
Notice how price moved back to the Weekly open at 7000 area yesterday.
Bitcoin is not immune to charting. It is very volatile and can move, but charting does show fear and greed at...
I was doing these kinds of trades in early 2018 before the coin market tanked. Works great in high volatility. Don't be scared to catch a falling knife with the right research and patience.
1- Find a level - multiple confluence of levels are best
2- Look for divergence for possible change in direction
3- Look for higher volume bars compared to recent preceding...
If you have been holding, $8000 could be a good place to take some profits.
Weekly chart shows the move from last year's euphoria high of $20k down to the low of $3100.
We have taken out a previous swing of $7680 and moving in on next swing of $8500.
We are also at the 2019 yearly pivot price of $8000. Take some profits here. Price could linger before a move...
1- Heavy sell-off in April
2- Price has closed above Monthly pivot and maintained
3- Tight flag formation on Daily above the pivot with multiple inside bars
4- New CEO as of 5/13 which gives some needed positive change
5- Price hit close to S1 Monthly level and has pushed up. R1 would be the immediate target.
$3.22 is the 50% pullback from last...
The volume is horrendous on this one, but it has pulled back almost off the highs of the last 2 days.
If the current hourly bar closes above 2551, it could be a nice play for 10%. Again, no real volume though.
2300 would be a great entry too, but the current setup is what I'm looking at atm.
Based on current prices, the areas marked on the chart are where I would look for reactions and some price action set-ups. Each one, I would look for 5-10% moves and maybe more.
These are areas based on the daily timeframe and I look for setups on the hourly.
My preferred trade set-up.
This works in all markets & all time levels. I use daily tf for charting & most of the time use hourly for set-ups.
See the notes on attached chart and get some screentime in. No substitute!
I have multiple buy/sell zones I'm watching. See chart for the areas of interest.
The 10,310 and 9,910 are higher risk and would be fast "get in/get out for what you can grab" trades. Maybe 3-5% type trades or hold for more if momentum goes in your favor.
The buy at 9600 would be medium risk with 5%-10%+ target in my opinion. The 8800 buy should be excellent...
My ideas written on the chart. My buys are all targetting 5-20% moves. I'm in a buying mode so falling down lower helps me get filled! If we continue higher, I'll watch the bounce areas above and pullbacks for entry set-ups.
I like the current price for a bounce 820 area. I like 720-750 for another bounce point. I consider bounces anywhere from 10-20%, but 5% acceptable too. Just have to watch price action play out, volume and momentum.
Like better bounce and also hold entry at 575-640. It's an upward Daily TL and previous demand.
In a downward channel on the daily and 4 hour. Looking at 10k big round number and 9500 and 9000 demand and previous low levels. Lots of good bounce areas under this area too that could catch the "falling knife". A heavy volume spike coming into the entry area would help in getting momentum to bounce.
Look at 3 entries: 10k, 9500, 9000 and target 11k, 11500 and 12k.
My 590 overnight buy didn't trigger, but the trade played out from 607 bottom price and pushed through my sell zone area.
This morning, we have a heavy rejection pinbar on the 4 hour chart where price broke through the 2 previous day highs and rejected.
Looking for 600 to get a real test this time. Previously we had a triple bottom on the 1 hour at 606, 606...