📈Bitcoin on its way to $80K? / Serial analysis on BTC📉
Updated
BTCUSDT BTCUSD Hello dear traders.
⚡️ In this post I will track the BTCUSDT movements from 11 Apr - 18 Apr.
📈 What to Expect Next?
💡The price of Bitcoin is in a vital situation. As long as the price is above the BB midline, the bullish scenario is quite valid.
The bullish scenario targets are on the price chart.
🔑Key Insights:
The level of $72,784 is the optimal level for risk-freeing long positions.
The risk of this position is lower in the upward direction due to the price trend. But in the case of falling prices, a possible scenario is drawn in the chart.
📉On the other hand, if the price fails to receive the necessary support at the mentioned level, the bearish scenario will be activated around the target of $69,400.
A price stabilization below the middle line of the Bollinger Band can push the price down to pullback to the pitchfork.
◀️Reverse scenario:
🔴Major and hidden divergences are also plotted in the chart. The $67000 level is Bitcoin's support in a bearish scenario.
🔴The main divergence is related to the OBV indicator, which reinforces the bearish scenario.
On the other hand, the hidden divergence is related to the RSI indicator, which reinforces the bullish scenario.
🔴The failure of specified support level will bring Bitcoin down to around $65,100.
✅Entering a bearish or bullish scenario with the help of price behavior above or below the 4-hour Bollinger midline can be the most optimal strategy in the current market conditions.
Trade closed: target reached
💡According to the predicted scenario, after failing to stabilize above the Bollinger Midline, the price of Bitcoin experienced a sharp fall and reached the level of $65,100 mentioned in the scenario.📉✅
🔑Follow this analytical post to find the optimal buy points before the halving.◀️
Trade closed: target reached
According to the predicted scenario, Bitcoin experienced an upward correction and returned to testing the support levels.📉✅
💡Current market conditions are positive with the approval of Bitcoin and Ethereum ETFs in Hong Kong. But the conditions of the Middle East region may increase the risk of positions.
🔑If you are not a risk taker trader in quick scalping positions, do not trade in this current time-frame.
In negative conditions, Bitcoin price may fill the red scenario to the body of the previous bearish candlestick.◀️
On the other hand, the stabilization of Bitcoin within the pitch-fork structure can activate the green scenario.◀️
Trade active
🚩The red scenario is going ... 🔻Note
💡As predicted by the previous analysis, Bitcoin tested the Liquidity Zone twice and began the path back to the level of $65,000. ✅
🔑Further, if the price can stabilize above the level of $64,475, Bitcoin will advance to around $67,000 and then $70,000.
🔑On the other hand, if the price rejected below the mentioned level, BTC will go down to the middle line of the pitch-fork and to the previous pivot level.
Note
💡As predicted by the previous analysis, Bitcoin rejected below the mentioned level and go down to the middle line of the pitch-fork and to the previous pivot level near the liquidity zone.
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📲 Telegram: t.me/CrazyS_Tradingview_Analysis
Share the analysis & Spread the wealth✨
🖊Got Feedback? We're all ears!📚
🍀Ride this journey with us🥂
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