Hi, friends.
Our last forecast on BTC was very precise. What to expect now?
I would not recommend buying now, at the price where bitcoin is.
Best of all is to wait a correction move to 8500 (30% Fibo) or 8100-8150 (50% Fibo).
At the moment we have bullish initiative, but for further growth the price should be corrected or consolidating.
Trade recommendations:
Entry point: 8500-8535
Stop: 8420
Target1: 9100
Target2: 9300
Trade recommendations (if 1st trade - stop-loss):
Entry point: 8100-8170
Stop: 7950
Target1: 9100
Target2: 9300
Glossary of terms
Our last forecast on BTC was very precise. What to expect now?
I would not recommend buying now, at the price where bitcoin is.
Best of all is to wait a correction move to 8500 (30% Fibo) or 8100-8150 (50% Fibo).
At the moment we have bullish initiative, but for further growth the price should be corrected or consolidating.
Trade recommendations:
Entry point: 8500-8535
Stop: 8420
Target1: 9100
Target2: 9300
Trade recommendations (if 1st trade - stop-loss):
Entry point: 8100-8170
Stop: 7950
Target1: 9100
Target2: 9300
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.
Note
BTC Update:
The price reached first support area but the rebound it too weak I think. You can try to buy on break out @POCof the day.
Entry point: 8705
Stop: 8445
But if the price breaks down this support area (8500-8550), wait for a correction wave to 8100-8150 (50% Fibo).
Entry point: 8150-8200
Stop: 7950
Target1: 9100
Target2: 9300
Target3: 9800
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.
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.