BTC 1D
Updated
I'm analyzing the 1day BTCUSDT chart and I've spotted a head and shoulders pattern, which could indicates a shift in the trend. To help me make better trading decisions, I've created a custom Pine Scripts that shows me important indicators like the RSI, SMA, and buy/sell signals. I've also marked any CME gaps on the chart since they can act as support or resistance levels. With all these indicators, I can guess potential buying and selling opportunities with greater accuracy.
Its important to note that I am a student and none of these are financial advice , I only enjoy drawing the charts and creating the scripts
Its important to note that I am a student and none of these are financial advice , I only enjoy drawing the charts and creating the scripts
Comment
I think we could drop down to about 23300 area if we bounce out of leg 3 we might see 32k possibly 42k .... Massive guessingComment
With Candles
Comment
Hey everyone! It's me, and I just wanted to share an update on the current trading situation. Right now, the price is trading at 28108, which is actually above the 200-day moving average (MA) at 27978. That's a pretty good sign, and it suggests a bullish bias in the longer-term trend.However, there are a few other indicators to take into consideration. The RSI is currently at 51, which is in the neutral zone and doesn't provide a clear indication of a bullish or bearish trend. We'll need to keep an eye on it to see if it moves above 50, which could suggest a bullish trend.
The MACD is currently below the signal line, which is a bearish sign for the short-term trend. But there is some hope - the histogram value of 37.76 actually indicates some bullish momentum, and the MACD is not too far negative at -4.09. This suggests that while there might be some consolidation or sideways movement in the short-term, the overall trend is still bullish.
Finally, we have the CME gap at 28125. This suggests that there may be a potential price target in the near-term at that level. However, it's important to remember that gaps don't always get filled, and the price could continue to trade above the gap level.
So, all in all, it seems that we have a bullish bias in the longer-term trend with some consolidation or sideways movement in the short-term. As always, it's important to keep monitoring the indicators and the overall market conditions to make informed trading decisions. Stay vigilant, everyone!
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