cryptonoob12

BTC thoughts going into April

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Disclaimer: still learning, practicing charting to boost my experience and paper trading to boost my market exposure, experience and to get me used to position sizing + R:R.

Also, I believe less is more hence why the chart itself is so empty. It's the purest and simplest view of what im looking at.

I treat each line as a zone rather than just a line.

Weekly:
- Orange lines + 50 EMA around 7.4k.
-RSI trying to break 50 (failed to hold above end of February)
- MACD still falling but gap is slowly getting tighter.
- Bear volume declining
- potential inside bar forming (not too sure how its used, need to look into it)

Daily:
- Green lines
- Lots of bull volume on 06/02/18 but not much since, slightly picking up since 11/03/18
- 9k = Physchological level and 200 day EMA acting as a resistance.
- Potential bull cross on MACD
- EMA resistances: 9.8k 50 EMA and 10k, 100 EMA
- quite a few long wicks on candles implying indecision but the longer wicks appear to be at the bottom, potential bull bias

4hr:
- bouncing between green lines.
- RSI bounced off 50 and looking up
- MACD potential bull cross
- volume generally holding since bear volume spike on 07/03/18
- Also, 8.9k is 100 EMA and 9.4k is 200 EMA acting as resistances.

Fibs:
- from 20k top to 6k bottom, interesting levels to me 9.3k (.236) and 11.3k (.382) -> resistances
- from 6k bottom to 11.7k top, 10.4k (.236), 9.5k (.382) and currently trying to hold above 8.9k (.5)

Personally, I see 9k to 11.6k as a massive resistance. That zone is literally, resistance on resistance. That being said, bulls seem to be building some slightly bullish momentum on daily and 4HR. if bulls can keep it up and get to like 11.5k in the next 3 weeks ill be happy.

For now, im super cautious. Potentially longing closer 6-7k and shorting from 9-10k but very small positions. If we manage to break the blue downtrend line, im probably gonna sit on the sidelines until 11.6k breaks and holds as support.
Comment: That triangle didnt last very long lol.

Im mostly on sidelines for now. if 6.6k doesnt hold ill probably be shorting
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