Short term seasonality: BTC since last few weeks -shows retracement (50 to 78%) from Sunday to Tuesday - Overall trend is bullish so we will wait till Tuesday/Wednesday, and align our trade with overall trend - We will see how BTC reacts at support - upon bullish pattern/candle indication we will enter a long
Dow Theory - Ok - Higher highs and higher lows intact on higher time frame
Candle stick pattern - We will wait and see at support
S&R: Clear levels available - identified
Trendlines - Yes - price tends to follow trendlines - drawn on higher time frame
Fib - suits well will BTC - applied
Seasonals : Analyzed , Timelines : Yes applied
Divergence : Will watch out for bullish divergence for entry at key level identified
Bearish indications:
Double top at candle body level - but shadow crossed previous high
Lower highs & lower lows at hourly
Bullish indications:
Daily & 4 hourly trendline intact
No reversal indicating harmonics pattern
Bias : Long
Plan:
Buy above 23481
Stop loss : 22550
TP 1 : 24450
TP2 : 26500
Dow Theory - Ok - Higher highs and higher lows intact on higher time frame
Candle stick pattern - We will wait and see at support
S&R: Clear levels available - identified
Trendlines - Yes - price tends to follow trendlines - drawn on higher time frame
Fib - suits well will BTC - applied
Seasonals : Analyzed , Timelines : Yes applied
Divergence : Will watch out for bullish divergence for entry at key level identified
Bearish indications:
Double top at candle body level - but shadow crossed previous high
Lower highs & lower lows at hourly
Bullish indications:
Daily & 4 hourly trendline intact
No reversal indicating harmonics pattern
Bias : Long
Plan:
Buy above 23481
Stop loss : 22550
TP 1 : 24450
TP2 : 26500