BITCOIN DAILY TRADING ABC Idea
Simple look at daily bitcoin chart idea with Trading ABC indicator and Slow Stochastic + MACD loaded.
I added in Institutional FVG indicator to give us some ideas as well.
If we take the current price as point C and the end of the current price movement, then we should see an inverse ABC going down first, which again looks likely on Slow Stoch RSI + MACD, such a move if it hits the FVG shown would lead to more of a down move is the theory.
So we can see 24.2K was point C and new point A, then point B will in theory be down through the FVG to around 17K before a rebound up to a new point C.
This is further confirmed if we look at Trendsurfer indicator (not loaded here) which shows resistance where we are now and down side to around 20K support roughly, if you turn on scalp mode it shows the price has moved below the trend line as well which would typically lead you to expect a downward move incoming too.
I added in Institutional FVG indicator to give us some ideas as well.
If we take the current price as point C and the end of the current price movement, then we should see an inverse ABC going down first, which again looks likely on Slow Stoch RSI + MACD, such a move if it hits the FVG shown would lead to more of a down move is the theory.
So we can see 24.2K was point C and new point A, then point B will in theory be down through the FVG to around 17K before a rebound up to a new point C.
This is further confirmed if we look at Trendsurfer indicator (not loaded here) which shows resistance where we are now and down side to around 20K support roughly, if you turn on scalp mode it shows the price has moved below the trend line as well which would typically lead you to expect a downward move incoming too.
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