MoonrakerCrypto

BTC/USD - 1H - Technical analysis published on 02/27/2021

Short
BITSTAMP:BTCUSD   Bitcoin
Moon to Earth ... anyone there?
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BITBAY:BTCUSD : Summary of the Analysis
Trends: Short Term - Strongly Bearish & Long Term - Bearish
Technical indicators: 7 Bullish ; 10 Bearish & 9 Neutral
My Opinion: Bearish under USD 48,477
My targets: USD 44,899 USD (-4.7%), USD 42,564 (-9.7%) & USD 41,025 (-12.9%)

BITBAY:BTCUSD follows a very strong bearish trend (21° downwards) from ATH at USD 58,354 on 02/21/2021. Traders may consider only short (sell) positions as long as the price stays well below USD 48,477 (Stop Loss Level). The next support at USD 42,564 and this is the next bearish target to be hit. A bearish breakout below this support would increase bearish momentum. The bearish move could then continue towards the next support at UDS 42,564. Below this support, sellers could then target USD 41,025.
Signal Force (0-10): 4 = middle force

We are currently trading around VWAP . Should we break significantly downwards this would be a strong sell signal.

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Published on 02/27/2021, 5:00 PM (UTC+1)
Trade active:
Bollinger Bands Width narrowing ... outbreak (up or down) probably coming soon.
Trade opportunity coming!
02/27/2021, 10:30 PM (UTC+1)
Trade active:
Target 1 (USD 44,899) reached.
02/28/2021, 4:00 PM (UTC+1)
Trade active:
Updated Signal Force (0-10): 7 = strong force now
... downward Momentum increasing!
Now retracing back up to VWAP (which was expected after a strong downwards impulse). Like before, should we break significantly downwards from here this would be a strong sell signal.
Trade opportunity coming!
02/28/2021, 9:30 AM (UTC+1)
Trade active:
... bounced off of VWAP!
Should we stay below VWAP this would be a strong sell signal = an opportunity to top up the short position.
Trade opportunity!
02/28/2021, 11:00 AM (UTC+1)
Comment:
Well on track towards Target 2 (USD 42,564) - all good. Hope you got my previous short entry point (around USD 45,500)!

Analyzed Trade Volumes (15m frame) ... consistently BIG trades on all recent downward impulses!
Expert advice: Do what the big guys do - sell when they sell & buy when they buy.
Hence, Trend Outlook now updated to: Short Term - Strongly Bearish & Long Term - Strongly Bearish.
Happy trading!
02/28/2021, 04:00 PM (UTC+1)
Trade active:
Back to USD 46,500. Hold any existing shorts and/ or open new positions.
03/01/2021, 07:30 AM (UTC+1)
Trade closed: stop reached

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