edgarmiguel

BTC - 6 Indicators CONFIRM - 8HR TIMEFRAME

Long
COINBASE:BTCUSD   Bitcoin
Hello...

Here is my analysis on BTC for next possible target - this is a bullish (short term position) since we are in a BEAR FLAG and expecting more downside from BTC in the long run

TIMEFRAME - 8HR
BULLISH PENANT - Broke penant in lower timeframes
FFEMAR - Above all indicator levels
BEAR FLAG - Bounce of below trend lines (white)
VRVP - Crossed VRVP in lower timeframes
MACD - Showing decrease in sellers strength
SUPPORT RESISTANCE DYNAMIC - Bounce off support level

If it stays above VRVP target is at $24,294 which is the next SUPPORT RESISTANCE DYNAMIC level which will be hard to reach since there is
also a resistance level below (RED ARROW) as indicated by VRVP

Studying this markets to become a Trader!!!! lets keep it going!!

Any comments or ideas are welcome

Thank you,
Trade active:
BTC hit target stated I closed my position
Lets see if it continues upward towards the 200SMA

FYI: SPY is hitting FIB 0.65-0.618 area

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.