Bitcoin (btc) set to Start New Trend
Updated
starting from WEEKLY chart
* and with that consideration and watching price action CORRECTIVE ABC was formed and connecting fib retracement from A to B, C wave was ended on 1.6 retracement which is a textbook projection
on DAILY chart
* marking shicff pitchfork from starting point of ABC wave to AB (0-AB)
*found that C wave has halted on lower median on pitchfork we plotted (((confluence 1)))
*with the help of trend based fib extension, marking it with same point of pitchfork and connected the remain two points with median of pitchfork
considering ((1.382)) lvl as my golden zone for the price rejection was occurred (((confluence 2)))
*as bear market condition are fast and furious the bull markets are big and slow, using TREND BASED FIB TIME, again the ((1.382)) levels were syncing with {MEDIAN + TREND BASED FIB EXT + TREND BASED FIB TIME} (((confluence 3)))
on 4HR chart
the yellow mark price action had bullish RSI divergence
THIS ANALYSIS IS PRE ENTERING THE TRADE
HOW TO TRADE? ? ? ? ?
the green buying zone, as price breakout and retest the zone specifically = 38200 to 38550 (((ENTER)))
it has mostly POSISTIONAL trade the Target has no limit instead using TSL will be great for maximising our profit
will update accordingly ...
* and with that consideration and watching price action CORRECTIVE ABC was formed and connecting fib retracement from A to B, C wave was ended on 1.6 retracement which is a textbook projection
on DAILY chart
* marking shicff pitchfork from starting point of ABC wave to AB (0-AB)
*found that C wave has halted on lower median on pitchfork we plotted (((confluence 1)))
*with the help of trend based fib extension, marking it with same point of pitchfork and connected the remain two points with median of pitchfork
considering ((1.382)) lvl as my golden zone for the price rejection was occurred (((confluence 2)))
*as bear market condition are fast and furious the bull markets are big and slow, using TREND BASED FIB TIME, again the ((1.382)) levels were syncing with {MEDIAN + TREND BASED FIB EXT + TREND BASED FIB TIME} (((confluence 3)))
on 4HR chart
the yellow mark price action had bullish RSI divergence
THIS ANALYSIS IS PRE ENTERING THE TRADE
HOW TO TRADE? ? ? ? ?
the green buying zone, as price breakout and retest the zone specifically = 38200 to 38550 (((ENTER)))
it has mostly POSISTIONAL trade the Target has no limit instead using TSL will be great for maximising our profit
will update accordingly ...
Trade active
btc has breached our buy zone
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.