AWD_Trading

AWD_Trading

The technical analysis idea on a 1H linear scale chart for Bitcoin ( BTC ). The chart is self-explanatory. The price broke out of the Descending Parallel Channel and re-tested the top trendline. After the re-test the price moved up to the $48K area but was rejected and now attempting to move back up again. If the price can not break the 0.786 Fibonacci...

AWD_Trading

BTC rejected from the resistance drawn above. Now price about to reached a minor support area of $49,200 - $49500. There's an another minor support around $47,700 - $48,000. Price is about to test the 50 Period EMA on the level, so we're expecting a bounced from one of these levels, which may break the resistance zone.

AWD_Trading

BTC is still showing weak movements , and the main reason behind this is the low liquidity in the market. On the other hand we can see 65% positive move in the MACD & RSI indicators (1day) but both still under zero levels. Until BTC moves to Zone 3 , having a real uptrend is still rejected, and all others will be fake. In this situation i preffer opening Short...

AWD_Trading

BTC up movement still fake in this zone we must more big moves from buyers, to take btc to above 53k area then to above 57k area to consolidate their and then give a real up trend. Other wise this is a trap to make you open your longs to got liquidated, so prepare your shorts from 52000 to 53000....