Bitcoin Daily Update | 15m
Updated
Bitcoin Update
Yesterday, Price was ranging between Open and High. Later in the day, price rallied up finally. There was a weakening or trapped bulls around the Range High (Day's High) But Bears were scalping not swing so Early Profit by Bears gave Bulls the change for Swing.
Today, We Opened two Bull Bars but later succumbed to lost momentum. There is Resistance today around Today's high, Based on Higher Time Frame as well as 15m Chart.
We are in a right channel, and Sell Off from the Daily High, broke below the EMA, hinting at selling pressure. This leg will be minor as the channel is tight. Bear Reversal Set-up should be taken if the trend resumption fails around Daily's High. If the conviction is lost for Bear Reversal then look buy probably for Scalp.
Currently, Price looks like trying to test Today's High,
Further reaction will give more information about today.
Yesterday's Update
Yesterday, Price was ranging between Open and High. Later in the day, price rallied up finally. There was a weakening or trapped bulls around the Range High (Day's High) But Bears were scalping not swing so Early Profit by Bears gave Bulls the change for Swing.
Today, We Opened two Bull Bars but later succumbed to lost momentum. There is Resistance today around Today's high, Based on Higher Time Frame as well as 15m Chart.
We are in a right channel, and Sell Off from the Daily High, broke below the EMA, hinting at selling pressure. This leg will be minor as the channel is tight. Bear Reversal Set-up should be taken if the trend resumption fails around Daily's High. If the conviction is lost for Bear Reversal then look buy probably for Scalp.
Currently, Price looks like trying to test Today's High,
Further reaction will give more information about today.
Yesterday's Update
Note
Bitcoin Update I have marked the Entries in today's chart till now.
Green Dashed : Long
Red Dashed : Short
(Not going to explain Entries)
Currently, Price is making a Wedge, with good reversal bar, I would buy that. Expecting this bull leg till EMA.
Expect the Range Low equal to 36400 (Today's Low)
It is very likely we close around the Mid Range Today. There is also overlapping of Range today, I call it Trending Trading Ranges. So Look to buy from the range low only, As often we see resumption or initiation of new trend from the Mid Range in Mid of the Day.
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.