BTC/USD : Weekly direction and trading plan for this week

Updated

Hello everyone 😃

BTC had a bounce from MA50 ( daily timeframe ) after a breakout above it.
Now EMA20 ( daily timeframe ) is attempting to break MA50 ( daily timeframe ) too !
Volatility cross is located at 51% which is showing that bulls have the lead for this week and this will make this opportunity for use to take advantage on ALTs/BTC.
As we are talking now; It seems that BTC wants to retest EMA20 or MA50 on daily timeframe which is not very far from BTC's current level.
But there is a order block below current weekly close, so it could be a great zone to support BTC.
Next two hours is so important, If current candle closed above it; Then BTC will rush to retest supply zone.
at 62K level, There area many resistance levels which can reject BTC before any major pullback above ATH...
MSB resistance line is located ~$61300; Historical resistance line is located at ~$61800 and Supply zone is located between ~$62300 - ~$63850.
Bulls don't have enough financial superiority for break ATH at current minor pullback ! We may retest weekly close after any leg up to higher pressure zone.

🔴 Be caution, If any 12H candle closes below current support zone; Then bears will try to lead the pair to lower MSB line and demand zone !!
So It's not a good time for swing traders or scalpers to trade BTC for ±8%...

🔰 Now the question is : Which way is the most profitable strategy to trade with for next days or weeks ?!
There are many ways to trade and invest into crypto, I expect that the most profitable way is to increase our BTC bags; But it's not possible with low volatility on BTC's movement.
There is another way to increase our BTC bags.
You can trade ATLs/BTC; It's the best time for ALTs to outperform BTC again !
There are many mid cap and low cap ALTs that didn't moved according to BTC's bull run and they are still in a dip.
Such as strong ALTs like : LINK, AAVE, YFI, ATOM, GRT, SNX, UNI
And some of the DeFi coins that seems about to breakout this week like : AAVE, COMP, BAL, CRV, SUSHI, BADGER, REEF, 1INCH, COTI, YFI.
As you can see most of the suggested strong ALTs are DeFi cause we didn't saw any major volatility on them except LINK, AVAX, SUSHI, FTM, RUNE and YFI.
Also I'm scouting low cap alts that are bottomed that were hot projects a few months ago and still are but have endured a harsh sell-off.
Top of my head that includes NFTs (TVK, ERN) as well asKYL (DOT ecosystem).
There will be another few coins that didn't moved according to last bull run Such as XRP.

📌 Note that All of the given strategies is for mid May, We might change our plan for late May !
There is a proverb which is saying : Sell in May and go away.
This month is of the biggest month for ALT-season since 2017.

Hope you enjoyed our analysis about BTC's weekly strategy🙌
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Also you can share your opinion with us in comments 😉🙋🏼‍♂️

Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
Helical_Trades

Note

#BTC_USD Helical_Trades

Healthy consolidation, giving ALTs more space to continue running.

However, people become bullish at resistances, might be time that we'll have a correction on BTC.

Everything is fine with nothing to worry about if bitcoin keeps its price above the $55000...

Note

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