Happy Saturday Afternoon Traders!
What's goin' on? Hope you're doing well.
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
This post is a sequela of the previous one, so go check out the post prior to this to get a bigger picture, although this post stands on its own. So, here we go!
TIMEFRAME: 4 Hour
Bitcoin is riding and staying above the 120 EMA (White) and the Stoch RSI indicator is showing a bullish momentum which when compared to the price action has a good correlation at this time of writing.
What then is the next thing to expect?
Price action must break the $30,400 resistance level (red bar) and must find support from that level. If it finds support at $30,400 then Bitcoin is expected to push toward the target zone above right at the green bar ($33.7K - $33.8K)
The MACD indicator will also reflect the fast MA (blue) as pushing the zero level going towards the positive zone (green) as Bitcoin starts breaking the red bar resistance.
What to watch out for?
Support. Watch that the 120 EMA must be respected as support when price dips towards the $29.6K, which Bitcoin will likely to do to create a re-test of support and eventually create a bullish divergence on the 1HR timeframe on the MACD indicator.
My strategy?
Plan A: Buy at the 120 EMA dip.
Plan B: Buy at the rebound off the red bar
If you're looking to accumulate Bitcoin, well then the way to do it would be to DCA (Dollar Cost Average) in, buying as it gets cheaper and cheaper.
So, hope you are able to find some ideas for your strategy here.
Remember...
No emotions, stick to your rules.
Manage your account, 5% of you trading capital is enough to use in a single trade so you're guaranteed to stay in the game.
Price action is always KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Hit me up with your questions, will be glad to answer them.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
What's goin' on? Hope you're doing well.
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
This post is a sequela of the previous one, so go check out the post prior to this to get a bigger picture, although this post stands on its own. So, here we go!
TIMEFRAME: 4 Hour
Bitcoin is riding and staying above the 120 EMA (White) and the Stoch RSI indicator is showing a bullish momentum which when compared to the price action has a good correlation at this time of writing.
What then is the next thing to expect?
Price action must break the $30,400 resistance level (red bar) and must find support from that level. If it finds support at $30,400 then Bitcoin is expected to push toward the target zone above right at the green bar ($33.7K - $33.8K)
The MACD indicator will also reflect the fast MA (blue) as pushing the zero level going towards the positive zone (green) as Bitcoin starts breaking the red bar resistance.
What to watch out for?
Support. Watch that the 120 EMA must be respected as support when price dips towards the $29.6K, which Bitcoin will likely to do to create a re-test of support and eventually create a bullish divergence on the 1HR timeframe on the MACD indicator.
My strategy?
Plan A: Buy at the 120 EMA dip.
Plan B: Buy at the rebound off the red bar
If you're looking to accumulate Bitcoin, well then the way to do it would be to DCA (Dollar Cost Average) in, buying as it gets cheaper and cheaper.
So, hope you are able to find some ideas for your strategy here.
Remember...
No emotions, stick to your rules.
Manage your account, 5% of you trading capital is enough to use in a single trade so you're guaranteed to stay in the game.
Price action is always KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Hit me up with your questions, will be glad to answer them.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Comment:
MARCH 18, 2024