So, finally BTC appears to broke our downtred from its ATH, which its already a bull signal.
We can see we might be forming an inversed head and shoulders pattern (its NOT finished yet and may not finish) and IF we get a breakout from it , above the 11000 level, it might be a good entry signal.
Another and a safer way to trade is to wait BTC to retest either the uptrend or the 50 ema and reject it as a support, however there is the risk of btc just go moon without retesting it.
So IF we complete our H&S pattern the HIPOTETICAL target should be around 16500 level but it might take some time to reach it since we have 2 strong resistance levels before.
On the other hand IF we break our uptrend and the 10000 psicological level we might go deep again.
About the indicators,
we can see MACD is just about to cross to the upside and above the 0 value
RSI is going bullish as well
ADX is below 25, so we might be in a decisive moment, time to get our momentum back.
And we can see as well how the volume is increasing on our bullish waves.
So there are a few options here.
-Wait the H&S to complete to enter long.
-Wait for a retest of either 50 ema or uptrend and the rejection of it.
Both options have his own risks, and its not because we broke the downtrend that btc will just go moon again, however its a REALLY good sign.
If i go long i might put a stop loss just below the uptrend.
This is not a trading signal or a buy sign either. This analysis is made only for educational purposes.
We can see we might be forming an inversed head and shoulders pattern (its NOT finished yet and may not finish) and IF we get a breakout from it , above the 11000 level, it might be a good entry signal.
Another and a safer way to trade is to wait BTC to retest either the uptrend or the 50 ema and reject it as a support, however there is the risk of btc just go moon without retesting it.
So IF we complete our H&S pattern the HIPOTETICAL target should be around 16500 level but it might take some time to reach it since we have 2 strong resistance levels before.
On the other hand IF we break our uptrend and the 10000 psicological level we might go deep again.
About the indicators,
we can see MACD is just about to cross to the upside and above the 0 value
RSI is going bullish as well
ADX is below 25, so we might be in a decisive moment, time to get our momentum back.
And we can see as well how the volume is increasing on our bullish waves.
So there are a few options here.
-Wait the H&S to complete to enter long.
-Wait for a retest of either 50 ema or uptrend and the rejection of it.
Both options have his own risks, and its not because we broke the downtrend that btc will just go moon again, however its a REALLY good sign.
If i go long i might put a stop loss just below the uptrend.
This is not a trading signal or a buy sign either. This analysis is made only for educational purposes.
Nota
If we open an 4h chart we can see that BTC is retesting the trend right now, if BTC retraces from this level it'll be another bullish sign, however if we break down this level we need to keep an eye to the 10000 level.Nota
So the daily candle just closed and it doesnt look good.Now we need to wait for the price action around the 10000 level and the uptrend
If the price break these levels we might retest 8200~9200 zone.
On the other hand, if the price confirm support on the uptrend , it'll be a bullish sign.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.