BTC stars are aligning for significant breakout ✨ SL + Entries
Hey folks,
I'm following the same technical analysis strategy that I used on my last successful idea:
Reasons to buy BTC right now (1W Timeframe):
Considerations:
Bearish divergence on the 1W chart between the last two ATHs.
Entry: 44.5k (DCA 42.7k 41.7k - these entry points are likely in a drawback before the next move up)
SL Options:
*28.8k (Widest and lowest risk - adjust your entry amount accordingly and focus on improving entry rather than maximising amount)
*32.9k (Wider)
*40.3k (Tighter)
*42.6k (Most aggressive SL - can focus on a larger entry amount but there's a greater chance of this being hit. Be careful)
Not financial advice, I'm not a professional. Good luck and let me know how you get on.
I'm following the same technical analysis strategy that I used on my last successful idea:
Reasons to buy BTC right now (1W Timeframe):
- RSI / 14 RSI MA Crossover
- Breaking upwards out of Stochastic RSI oversold
- Candles breaking through 50 EMA
- cuongitl's extremely reliable Wavetrend indicator crossing upwards (usually only accurate on smaller timeframes when lema + lsma lines are heading upwards, but on 3D/Weekly timeframes and higher, crossovers hold more weight without trend in my experience)
- These are the conditions that occurred in the breakout after last Summer's bear market.
Considerations:
Bearish divergence on the 1W chart between the last two ATHs.
Entry: 44.5k (DCA 42.7k 41.7k - these entry points are likely in a drawback before the next move up)
SL Options:
*28.8k (Widest and lowest risk - adjust your entry amount accordingly and focus on improving entry rather than maximising amount)
*32.9k (Wider)
*40.3k (Tighter)
*42.6k (Most aggressive SL - can focus on a larger entry amount but there's a greater chance of this being hit. Be careful)
Not financial advice, I'm not a professional. Good luck and let me know how you get on.
Note
There's significant resistance at the 45.5k-46k level. If it rejects, consider entering on the drawback. If it breaks through, happy days. If it consolidates in this area, bull flag will form before a move upwards.Stay on your toes.
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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.
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.