BitcoinLong
BTCUSD - Bottom Spotted?
Updated
Hi,
After some months without any update du to other task on the cryptoworld, I came back one week ago on my Trading view scripts. I updated them and here is my first analysis using those scripts.
Yesterday BTC started to fall and bring with him the entire crypto world.
I noticed that the EMA 150 (green EMA) on the 1D timeframe was quite good to spot the bottom during the dump of BTC during last year. On the following graph, you could see that BTC is actually touching this EMA and may bounce from it! (the red circles highlight each time BTC touched the EMA 150)
Now here comes my new script. The red curve below the 4H timeframe graph of BTC is an indicator built from multi other indicators/oscillators on multi time frame (ADX, RSI, MACD, OBV, CMF....)
What we can see with this indicator is that each time the red curve of the indicator touch the dashed green line, we observe a bounce of BTC (the green circles highlight each time the red curve of my custom indicator passed the green dashed line)
And today, my custom indicator passed through this dashed line. Si i expect a bounce of BTC.
Moreover 9800 seems to be a FIB support as you can see and we also have a long timeframe support (represented by the purple line) that will help sustain BTC price.
However if we broke this support we may go to 8800 support.
Good luck with your trading!
After some months without any update du to other task on the cryptoworld, I came back one week ago on my Trading view scripts. I updated them and here is my first analysis using those scripts.
Yesterday BTC started to fall and bring with him the entire crypto world.
I noticed that the EMA 150 (green EMA) on the 1D timeframe was quite good to spot the bottom during the dump of BTC during last year. On the following graph, you could see that BTC is actually touching this EMA and may bounce from it! (the red circles highlight each time BTC touched the EMA 150)
Now here comes my new script. The red curve below the 4H timeframe graph of BTC is an indicator built from multi other indicators/oscillators on multi time frame (ADX, RSI, MACD, OBV, CMF....)
What we can see with this indicator is that each time the red curve of the indicator touch the dashed green line, we observe a bounce of BTC (the green circles highlight each time the red curve of my custom indicator passed the green dashed line)
And today, my custom indicator passed through this dashed line. Si i expect a bounce of BTC.
Moreover 9800 seems to be a FIB support as you can see and we also have a long timeframe support (represented by the purple line) that will help sustain BTC price.
However if we broke this support we may go to 8800 support.
Good luck with your trading!
Note
Nailed it! We got a nice bounce on the Long timeframe uptrend support (represented by the purple line) and on the 1D EMA 150
The 4H timeframe bar closed below the Fib level but not on 1D timeframe for the moment.
In less than 2 hours we will see the expiration of one of bitcoin future contract, we will see what happen from there.
Note
After bouncing 5 days ago on the 1D EMA 150 (aqua curve) +long timeframe support ( purple line) + the first low green lime curve of my new indicator "Bondaries" (that I could explain in a different topic if you are interested, ask for it on the comment), BTC/USD price is currently between two FIB Level (around 11k and 12,6k) and inside a triangle (between the purple line and the red line).
This Triangle will broke before the end of January.
Th 4H MACD indicator seems to have cool off a little and we may have a little upward mouvement in the next hours/days in order to test the red line of the triangle. But I don't think we will break the triangle this time, except if we have a strong news on BTC.
To break it BTC have to gather more strength.
To do it, BTC may test the bottom of the triangle or the 1D EMA 150.
If the triangle broke upward we will test those following levels of resistance : 12,6k and then 14,3k. We will also test the black dotted line of my bounderies indicator.
if the triangle broke down we will test the 1D EMA 150 aqua curve and the lime green curve of my boundaries indicator.
I will keep you updated.
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