END OF BEARISH MARKET???
Hey Guys A blessed Day!
WHAT ARE WE LOOKING INTO?
- we are looking @ 1D Chart where BULLISH DIVERGENCE occurs. StochRSI shows the Higher Lows from February 4th - 19th indicating OVERSOLD, Wherein Price Action shows in the same dates Lower Lows.
- on the 18th of February MA50 crosses above the MA200 indicating GOLDEN CROSS
- Starting January 2020 the Market shows in ASCENDING CHANNEL/ UPWARD PRICE CHANNEL
- Price Action above Ichimoku Cloud as important Resistance/Support Area
- Price Action above MA's 50 & 200 and EMA'S 50 & 200
- May 2020 is the 3rd Halving
As we mentioned the Bullish Divergence occurrence, Wherein 4th of February onward established strongly the 9050$ STRONG RESISTANCE in the Bearish Market to become the SUPPORT KEY.
Last Bearish Candle @ 19th of February after the GOLDEN CROSSOVER creates a MASSIVE & WEIRD MOVEMENTS where FUD & FOMO in the Market occurs, Wherein indicating unpredictable Market Trend.
But what exactly happens?
PULLBACK & RETRACEMENT
- Starting January 2020 we saw UPWARD MOVEMENTS after the BEARISH MARKET OF 2019 from October to November (Until December creating double bottoms and H&S pattern that indicates the Reversal)
- So it is clearly and rightly that the Market will show us CORRECTION & PULLBACK.
What's NEXT?
Remember reading Chart and Patterns using all Indicators and Oscillators must correlates with one another.
Creating Technical Analysis must be at hand wisely and careful, expressing our thoughts in the Market Trend is just what we relate and how we understand the Trend.
NOW, We are seeing a Bullish Divergence with the Doji Candlesticks looking for a REVERSAL.
First, I encourage everyone to DYOR if you want to Trade for LONG and support my Analysis. Better understand the Market Trends.
BEST BUY ZONE to set Order to go LONG @ 9100$ - 9600$
Remember:
1. Trade with a Plan
2. DYOR
3. Make your own Analysis
4. Do Make Capital Risk Management - do not put all your capital
5. Have a Risk Control Management - set STOP LOSS during Trades minimizing your losses
6. Trade Wisely & Emotionless
TARGETS: REMEMBER THIS IS A LONG TERM TRADE
TP1 @ 10500$
TP2 @ 11600$
TP3 @ 12800$
TP4 @ 14000$
SET CAPITAL MANAGEMENT @ 10-20% OF THE CAPITAL ONLY
STOP LOSS @ 30 - 50% losses
Put TRAILING STOP and adjust from time to time to secure gains.
This is my TA if you support and want to use it on Trade kindly have you own research first.
Thanks for reading.
GOD BLESS!
:D KIKZBTC
PS: Kindly hit LIKE if you support and agree with my idea it's a form of thanks to me, encouraging me to have more TA and do more well in the next.
For more updates and TA kindly FOLLOW my TRADINGVIEW Account.
WHAT ARE WE LOOKING INTO?
- we are looking @ 1D Chart where BULLISH DIVERGENCE occurs. StochRSI shows the Higher Lows from February 4th - 19th indicating OVERSOLD, Wherein Price Action shows in the same dates Lower Lows.
- on the 18th of February MA50 crosses above the MA200 indicating GOLDEN CROSS
- Starting January 2020 the Market shows in ASCENDING CHANNEL/ UPWARD PRICE CHANNEL
- Price Action above Ichimoku Cloud as important Resistance/Support Area
- Price Action above MA's 50 & 200 and EMA'S 50 & 200
- May 2020 is the 3rd Halving
As we mentioned the Bullish Divergence occurrence, Wherein 4th of February onward established strongly the 9050$ STRONG RESISTANCE in the Bearish Market to become the SUPPORT KEY.
Last Bearish Candle @ 19th of February after the GOLDEN CROSSOVER creates a MASSIVE & WEIRD MOVEMENTS where FUD & FOMO in the Market occurs, Wherein indicating unpredictable Market Trend.
But what exactly happens?
PULLBACK & RETRACEMENT
- Starting January 2020 we saw UPWARD MOVEMENTS after the BEARISH MARKET OF 2019 from October to November (Until December creating double bottoms and H&S pattern that indicates the Reversal)
- So it is clearly and rightly that the Market will show us CORRECTION & PULLBACK.
What's NEXT?
Remember reading Chart and Patterns using all Indicators and Oscillators must correlates with one another.
Creating Technical Analysis must be at hand wisely and careful, expressing our thoughts in the Market Trend is just what we relate and how we understand the Trend.
NOW, We are seeing a Bullish Divergence with the Doji Candlesticks looking for a REVERSAL.
First, I encourage everyone to DYOR if you want to Trade for LONG and support my Analysis. Better understand the Market Trends.
BEST BUY ZONE to set Order to go LONG @ 9100$ - 9600$
Remember:
1. Trade with a Plan
2. DYOR
3. Make your own Analysis
4. Do Make Capital Risk Management - do not put all your capital
5. Have a Risk Control Management - set STOP LOSS during Trades minimizing your losses
6. Trade Wisely & Emotionless
TARGETS: REMEMBER THIS IS A LONG TERM TRADE
TP1 @ 10500$
TP2 @ 11600$
TP3 @ 12800$
TP4 @ 14000$
SET CAPITAL MANAGEMENT @ 10-20% OF THE CAPITAL ONLY
STOP LOSS @ 30 - 50% losses
Put TRAILING STOP and adjust from time to time to secure gains.
This is my TA if you support and want to use it on Trade kindly have you own research first.
Thanks for reading.
GOD BLESS!
:D KIKZBTC
PS: Kindly hit LIKE if you support and agree with my idea it's a form of thanks to me, encouraging me to have more TA and do more well in the next.
For more updates and TA kindly FOLLOW my TRADINGVIEW Account.
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.