BTC Medium + Short Term TA
Updated
this is my medium + short term TA for BTC
I posted the main supports and resistance taken from my long term TA for BTC using monthly chart.
You can read the long term TA for BTC here
for this chart I am using 1D chart to show the expected moves for BTC.
For 15D btc was in sideways from 7770 -8600 as you can see in the chart BTC is now testing the EMA 200 1D + EMA 21 1D as resistance.
if BTC can close 1D candle above EMA 200 1D will go quickly to test 9k-9400 where is the EMA 21 weekly and .382 fib level.
If BTC gets rejected from 8600- 8700 I am expecting to see 7900-7700 prices again.
In favour of bulls 1D,2D,3D,4D stoch are up + bull divergences 1D chart.
but don't forget the the trend is your friend and now the trend is bearish if BTC is below 8600-8700. If we want to see a full reversal BTC must close minimum 3D candle above 9400.
My own rule I don't take any long positions for medium term if the price is below the weekly EMA 21 for now just long scalps.
In favor of the Bears 1D RSI is still in the bears control level , RSI + EMA 12,21 are still in downtrend and the most Weekly + 2 Weeks + Monthly Stoch are down
I posted the main supports and resistance taken from my long term TA for BTC using monthly chart.
You can read the long term TA for BTC here
for this chart I am using 1D chart to show the expected moves for BTC.
For 15D btc was in sideways from 7770 -8600 as you can see in the chart BTC is now testing the EMA 200 1D + EMA 21 1D as resistance.
if BTC can close 1D candle above EMA 200 1D will go quickly to test 9k-9400 where is the EMA 21 weekly and .382 fib level.
If BTC gets rejected from 8600- 8700 I am expecting to see 7900-7700 prices again.
In favour of bulls 1D,2D,3D,4D stoch are up + bull divergences 1D chart.
but don't forget the the trend is your friend and now the trend is bearish if BTC is below 8600-8700. If we want to see a full reversal BTC must close minimum 3D candle above 9400.
My own rule I don't take any long positions for medium term if the price is below the weekly EMA 21 for now just long scalps.
In favor of the Bears 1D RSI is still in the bears control level , RSI + EMA 12,21 are still in downtrend and the most Weekly + 2 Weeks + Monthly Stoch are down
Note
As you can see in my chart got rejected from EMA 200 1D + EMA 21 1D now looks like it will go to test the support around 7900-7700.
Looks like the 1D bull divergence played out so I can not find signals of reversals if today BTC close below 8050 I would expect more continuation to the downside.
Note
BTC formed a falling wedge and now looks like wants to break out.There is a bull divergence 4hr chart if this pattern plays out the potential targets would be 8200 and 8400.
But in macro even with this bounce the macro still intact.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.