BTC's movement for today is bull biased due to the following reasons 1. MACD at H4 is largely open. 2. Strong upward pressure as seen in sudden pump. However, I still do believe that the long run is still bear but we are focusing on day trading. After hitting 8700 or 8800, it will go down again. Thick yellow lines - end of range Thin yellow lines - minor...
Trading for BTC today is bear biased due to: 1. Strong rejection of the 8295 and 8215 level. 2. MACD at H1 and H4 are bearish. As mentioned before, BTC is still largely bear in trend. In order to confirm if it is uptrend, it must break the 8460 level. Thick yellow lines - end of range Thin yellow lines - minor resistances Purple arrows - possible...
BTC's movement for today is bull biased due to the following reasons 1. MACD at H4 crossed, signaling upside. 2. Strong upward pressure as seen in sudden pump. However, I still do believe that the long run is still bear but we are focusing on day trading. I have a scenario in mind that after hitting the end of the range in upside, it will massively go down again....
BTC's movement for today needs to be carefully watched out before opening any order. It is risky because of two opposing ideas: 1. The end range, yellow thick line, has been seen to reject downtrend movement, lots of false breaks, and H1 RSI is nearing the oversold condition which signals that this can go up before it goes down again. 2. MACD at H4 is still...
BTC's movement for today is bear biased due to strong bearish pressure, overbought RSI at H4, and opening of the H4 MACD. Also, it is good to take note that the pump of BTC recently is mainly due to war tensions. Removing war sentiments will cause BTC to go downtrend, maybe faster than the pump. I am not saying that these are final for there is another scenario,...
Day trading for BTC today might be too hard because we can't see the full new range after the pump. Thick yellow lines - end of range Thin yellow line - minor resistance Thick purple arrows - most probable course of action Thin purple arrows - consequences after break of resistances after course of action Arrows - possible directional movements Trading is...
MACD at h4 is still largely open. BTC continues to follow the upward trend (in purple). If BTC breaks the resistance above, it would mean strong uptrend for it breaks both yellow and purple. Break below the purple line would mean price to move to the lower end of the range (yellow), while break beyond that yellow line would be strong downtrend of price. Be wary...
2 possible scenarios for today. Check the graph accordingly. Chart has been made easy to understand. Bias is on UPTREND due to MACD and current price action goes inside the yellow bullish pattern. However, watch out for price retracements; hence, there fibo. Know that trading carries risks. Always prepare stop losses. TRADING IS REACTIVE, NOT PREDICTIVE.