BTC $12000+ or $5500 till Aug 2020? Strategy after halving!
Updated
Guys this is a very important update so read it carefully.
I'll try to keep in as short as possible but there's too much information in the chart and we need to study only 3 important one of them to come to a possible conclusion.
1. The Global Resistance Trendline (White)
As you can see in the chart after many attempts BTC is trying to break above the Trenldine Resistance lately with a wick around $10045. iF WE OBSERVE CLOSELY BTC HAS NOT BROKEN IT YET.
2. THE 200D MA on Weekly (Violet)
It is an important indicator and yet it has not been retested yet after the breakout which still opens a door for lower prices in the future as low as $5500 to $6300.
3. The Violet Dotted Trendline
I observed this trendline has not been noticed by many people and I find it quite fascinating and think it can be retested in the run.
MACD RSI and many more indicators are still bullish though.
So what do we understand from this chart?
Unless the weekly closes above the $10800 mark I still think there's is a possibility of lower price depreciation, all the way upto $5500 to $6300.
We will wait for weekly close to see if we can break to the upside.
CONCLUSION:
SO DON'T BE CONFUSED, I AM WRITING THIS AGAIN IN SIMPLE WORDS, Break above $10800 will be sign that we've officially entered a possible 2 year BULL MARKET. If we get a strong rejection in the next 2 weeks be ready to buy BTC around $5500. My strategy will be to sell BTC around 10k and Buy back lower. If you want to know exactly when to buy and sell just go up there, move your cursor to my name and follow me for quick updates.
We will look into smaller Time frame too so that the picture becomes more clear.
If you like this idea please HIT that Like Button and share it with your friends. Also do not forget to read my other idea including the one which shows how we can see BTC around 132k within May 2022.
#PEACE
I'll try to keep in as short as possible but there's too much information in the chart and we need to study only 3 important one of them to come to a possible conclusion.
1. The Global Resistance Trendline (White)
As you can see in the chart after many attempts BTC is trying to break above the Trenldine Resistance lately with a wick around $10045. iF WE OBSERVE CLOSELY BTC HAS NOT BROKEN IT YET.
2. THE 200D MA on Weekly (Violet)
It is an important indicator and yet it has not been retested yet after the breakout which still opens a door for lower prices in the future as low as $5500 to $6300.
3. The Violet Dotted Trendline
I observed this trendline has not been noticed by many people and I find it quite fascinating and think it can be retested in the run.
MACD RSI and many more indicators are still bullish though.
So what do we understand from this chart?
Unless the weekly closes above the $10800 mark I still think there's is a possibility of lower price depreciation, all the way upto $5500 to $6300.
We will wait for weekly close to see if we can break to the upside.
CONCLUSION:
SO DON'T BE CONFUSED, I AM WRITING THIS AGAIN IN SIMPLE WORDS, Break above $10800 will be sign that we've officially entered a possible 2 year BULL MARKET. If we get a strong rejection in the next 2 weeks be ready to buy BTC around $5500. My strategy will be to sell BTC around 10k and Buy back lower. If you want to know exactly when to buy and sell just go up there, move your cursor to my name and follow me for quick updates.
We will look into smaller Time frame too so that the picture becomes more clear.
If you like this idea please HIT that Like Button and share it with your friends. Also do not forget to read my other idea including the one which shows how we can see BTC around 132k within May 2022.
#PEACE
Trade active
Let's look at the 3 Day chart.Looks like we just started a new 3D Candle and This close is very important for BTC to break to the upside.
If this current 3 Day Candle closes positively and we break to the upside. It will be highly likely that BTC could break the 10800 mark.
Trade active
In this 4 hour chart we can see a bearish MACD Crossover happened and Price retraced below the global resistance line which is the red trendline.Since BTC is acting too weird now with a lot of confusion and volatility I can expect BTC to trade under this expanding channel.
It is unlikely that BTC could reach the 9133 level but possible too.
IMO the best area to long would be the green zone which will provide better Risk Reward.
REMINDER FROM THE PREVIOUS CHART: Unless we break above the 10800 level there's still chances that we can see lower 6k levels.
CURRENT SUPPORT Levels are:
$9187 (Also happens to be the 50D MA).
$8827 (85D EMA)
$7800 (200D MA)
Resistance levels:
$10350
$10800
I will keep you updated,Please hit THE LIKE BUTTON AND Follow me.
Please share this idea with your friends. Your views are welcome here.
Note
Note
The dump was massive. BTC broke down the support and it seems we can head to the lower levels but before that we need need to see whether it breaks above the orange trendline or again gets rejected from it.In this chart I expect the price to retest the 9400+ level soon.
Although I won't consider it as a buy region.
I was 30% in USDT and my bids got filled around $9188.
Thanks for reading.
Please hit the like button if you like this update.
#https://Peacehttps://www.tradingview.com/chart/BTCUSD/rS5uDfty-BTC-USD-4-hour-Seems-ready-to-retest-9-4k/
Trade active
Welcome to this quick update.I am gonna share with you some important factors here.
In my last BTC Idea I said BTC will try to retest the 9300 area but due to expansion in time period this figure got lower and we touched $9182 level respectively.
Some important things to keep in mind:
1.The green area is a strong demand zone, $8100 to $8430.
2. 200D MA is still holding as a support. When BTC brokeout it didn't retested the 200MA what if it was just a retest and we're ready for another push to the upside?
3. Did you notice that yellow trendline in the chart? When BTC broke out it didn't retest this line and after 10 days It retested this line on May 10.
So considering these two factors I still think we're bullish above $8100 level.
I do understand that BTC is trading under a giant Rising wedge which is a bearish pattern in classical TA. Break below this will be devastating and we can see BTC to 7800, 7400 and even 6800 level but it's too early to speculate this.
Unless we break below this wedge and the 200D MA my perspective will be BULLISH.
What do you think?
What's your thoughts on this?
Please share your views and like this idea if it helps in any way.
And do not forget to read my $132,000 per BTC prediction, the link is given below.
Hope this helps.
Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
MEXC : bit.ly/get9100usdt
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
MEXC : bit.ly/get9100usdt
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
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.