Bitcointether
BTC Daily UpdateFrom a technical perspective 8500 is an interesting price point for a return to the bearish trend. It is a 68% fib. retracement of the
previous uptrend. We also see a clear ABC wave on the daily timeframe.
This reversal will likely not happen for a few days. Previous retracements for BTC have seen prices move in a range before forming a double peak and reversing.
It is also possible for BTC to go slightly higher in this time period. Because of this we believe our alt trades are still safe for the time being. We expect BTC to have a small pullback (7800-8050) before returning to 8500.
A long-term trading opportunity to buy in BTCUSDT. Wait to hunt!Technical analysis:
BITCOIN/TETHER is in a Range bound and Beginning of up trend is expected.
The price is above the 21-Day WEMA which acts as a dynamic support.
The RSI is at 59.
Trading suggestion:
There is possibility of temporary retracement to suggested support zone (7875 to 6048), if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (7875)
Ending of entry zone (6048)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
(We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)
Take Profits:
TP1= @ 9053
TP2= @ 11149
TP3= @ 12688
TP4= @ 17160
TP5= @ 19850
TP6= Free
Aprilbullish or Aprilbearish ? But anyway Aprilfoolish ! BTCUSDTHello my BTC short friends,
Little funny update here.
Do we continue to follow the downtrend or do we get a surprise on April 1st? The crossing lines are very coincidental in my opinion!
I guess the whales are having fun with their game.
Feel free to comment on my chart and take a view on my other posts, I am here to learn. Thanks!
B.aware & good luck trading!
B.
PS. I'm not daytrading, I just follow the markets and I'm looking to get back in at the right moment