Bitcoin (BTC) is Turning Up in H4Technical Analysis:
- BTC is doing wave (3) in blue which is part of wave ((1)) in black
- When wave ((1)) is completed, we expect a ABC correction in wave ((2)) in black around at 32,500
- H1 & H4 right side is turning up
Technical Information:
- We only consider the buy opportunity in wave (4) in blue once it's completed
Btcanalysis
Where will bitcoin go?According to the price action structure on the chart, it seems that Bitcoin will drop to the green range of ob after hitting the red range of supply.
We have sets of ob's that have been mitigated and now it looks like the way is open for a drop to the green range.
This upward movement of the price seems to be the time to collect sell orders
Also, we should not forget that we are under major dynamic resistance.
I have specified the invalidation level. Closing a 4-hour candle above this level will violate the analysis
For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You
BTC Bitcoin Technical Analysis and Trade IdeaIt's evident that Bitcoin has faced sustained downward pressure for a considerable period. A close examination of the chart reveals a decisive breach of the existing trading range to the downside, followed by a subsequent retracement. In our discussion, we explore the prospect of a potential entry point, while also carefully analyzing certain adverse indicators that are clearly visible on the chart. It's crucial to emphasize that all insights and analyses are comprehensively explained in the accompanying video and should not be interpreted as financial advice.
BTCUSD Analysis 3Sep2023BTC analysis is still in accordance with the analysis some time ago. Where the price goes down to SND and is currently still continuing the bearish trend. Seen prices approaching Wave 2, had seen bullish some time ago but the price returned to the 25800 area. There is a possibility that the price drops back more than wave 2. If this occurs is likely to be fake out, or if there is a bearish continuation then the Elliot wave notation will change .
Channel tradingHow to trade channels after sharp moves, where there is a valid money flow in the market.
During this short video I just described one of very common and useful techniques that is applied for channel trading, which is for this video scalping, but it applies to all time frames.
Here you need to get confirmation and be patient for pull back, it is important to put your stop loss precisely and of course be loyal to it (please do not move it)
Put the stop loss under that shadow but with enough space for breathing