BTC/USDT : Possible directions and trading setups

6 Okt 2021

BTCUSDT
Hello everyone 😃

#BTC just pulled back from our major buy zone as we mentioned before on last posts and gave us almost 30% profit !
Now we'll discuss about the possible scenarios with trading setups for swing and day traders.

LONG setups :
- I won't recommend to take LONG now, Unless #BTC shows strength after breaking above $52330.94 !

📚 EMAs had a bullish crossover and it can push the price above the current resistance zone but the main movement still suggesting a retracement before a breakout above ( last retracement was wide for bulls to reclaim above 50K in 1st push ).
Now If #BTC reclaim the higher resistance, After a pullback on broken zone, I'll take LONG with mentioned targets ( $54432.39 - $58370.59 - $61844.00 ) and set $48500.00 or below it as my stop-loss.

SHORT setups :
- It's better to search for SHORTs as #BTC is still remain below the resistance !

📚There's a visible bearish divergence between MACD and the movement, We can use it as a bearish sign but the trigger will be located at current level !
If #BTC fail to break above the resistance zone/line, Then we can take SHORT here with a limit stop-loss above $52920.00 and the targets are mentioned on chart ( $47544.93 - $44412.02 - $40841.00 ).

🔰 We discussed about the trading setups, Now let's have a overview on pullback points, exchanges data and other pairs combination :

Pullback points :
- The most possible scenario for me right now is a retest to ~46K level and pullback above 50K. ( It may changes with further confirmations ) !

📚 There will be two more trading setups for #BTC, If it shows strength on supports, You can take LONG on mentioned lines after a retest and pullback above them..


Exchanges data and other pairs combination : ( Sentiment view )
- #USDT.D's had a bullish divergence recently, So it can suggest a pullback from it's support on 4H's timeframe.

📚 It's not a right way to analyze the dominance charts, But we can have the idea to use the indicators in it !
There's a bullish divergence ( convergence ) on this chart, Also USDT.D had a pullback from the current support zone.
If USDT.D success to hold above the higher resistance line ( %3.15 ); Then it can bounce to %3.53, So it will be the reason of #BTC's correction..
- If it fails to break above %3.15 the it will dive below the zone to ~%2.88's support zone.
In this case we will see the confirmation of a pullback on ~46K's level on #BTC's chart !

📌 Recently Binance and Okex had +10K BTC's inflow on balance overall, It can suggest a liquidation event, However we had some on past recent days !
Also ALTs funding is not quiet good and it can cause a outperform on BTC's dominance.

📊 Overview : It's all about the current resistance and 46K's support, Watch them closely and follow the lead on setups, GOODLUCK !

Hope you enjoyed our analysis about #BTC's possible directions🙌
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Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
Helical_Trades