We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we can see that price is super bearish. Until we see a weekly candle close with a 10% gain we are not going to take buys on BTC. Price overall is bearish right now
The 40,000 area is definitely a key area of support to watch.
On the h4 timeframe if we were looking for short opportunities then I would wait for a retracement back to the 46,000 level!
On the weekly timeframe we can see that price is super bearish. Until we see a weekly candle close with a 10% gain we are not going to take buys on BTC. Price overall is bearish right now
The 40,000 area is definitely a key area of support to watch.
On the h4 timeframe if we were looking for short opportunities then I would wait for a retracement back to the 46,000 level!
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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.