WHAT IS GOING ON WITH BTC/USDT?
There are some parameter we must attend them
1.Volume: as you can see there is a decrease in volume which means one side of the market (Buyers/Sellers) stoped its action and waiting for a good entry point (Doji candles are confirming that)
2.EMA (9/21/50): these EMA's are showing us a strong downward trend
3.MACD: it is under zero line which means there is no support from the Bulls
4.RSi: it is below 50 which means the uptrend is not strong, on the other hand, it is on a line and it can be a good sign for the Bulls
** Short position: for Short position, 1st we must wait till the price break the support zone(31000$ and 28800$) successfully, 2nd we need a huge volume from sellers to confirm the downward trend, 3rd we need support from sellers and whales which we can see it from tall red bars of MACD,4th EMA's mustn't cross each other, in the end, we need RSI to break down the line and go down!
** Long position: for Long position, first thing first we need to break the dynamic resistance successfully (and have a pullback maybe) with a huge volume of Buyers, 2nd we need good support from Bulls which as I said before MACD can show us this parameter, 3rd RSI must break up the resistance and 50 level, 4th EMAs must cross up each other and come below the price, 5th we have to find some candlestick pattern to confirm our uptrend and give us an entry point
Last word: follow news, onchain-data, and whales action
1.Volume: as you can see there is a decrease in volume which means one side of the market (Buyers/Sellers) stoped its action and waiting for a good entry point (Doji candles are confirming that)
2.EMA (9/21/50): these EMA's are showing us a strong downward trend
3.MACD: it is under zero line which means there is no support from the Bulls
4.RSi: it is below 50 which means the uptrend is not strong, on the other hand, it is on a line and it can be a good sign for the Bulls
** Short position: for Short position, 1st we must wait till the price break the support zone(31000$ and 28800$) successfully, 2nd we need a huge volume from sellers to confirm the downward trend, 3rd we need support from sellers and whales which we can see it from tall red bars of MACD,4th EMA's mustn't cross each other, in the end, we need RSI to break down the line and go down!
** Long position: for Long position, first thing first we need to break the dynamic resistance successfully (and have a pullback maybe) with a huge volume of Buyers, 2nd we need good support from Bulls which as I said before MACD can show us this parameter, 3rd RSI must break up the resistance and 50 level, 4th EMAs must cross up each other and come below the price, 5th we have to find some candlestick pattern to confirm our uptrend and give us an entry point
Last word: follow news, onchain-data, and whales action
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