BTC Bull Run 0.81-2.1% 01 31 2023If you love the spot-on analysis done so far, please boost, share, comment, and follow for more.
This strategy is also used Live by Green Lion Capital Social Trading on Zignaly.
Despite the exciting start to the new year with the BTC price surge, one must be careful at this stage in the price movement cycle. It appears that the market is attempting to test $24,000. Based on a private 6-hour chart layout, we might be overbought and preparing to head down to $20,000. Of course, before we head to that price level, we will experience small bull run opportunities like this on our way down to that level.
For this chart, our oversold price point was $23,050 and we are anticipating a potential max of 2% upward price movement for BTCUSDT. Confirmations were made on the 5 minutes chart and 3 minutes chart.
*** Disclaimer: a second non-public chart layout was used to officially confirm this oversold point.
Safe points to take profit:
T1: 0.81%
T2: 1.58%
T3: 2.1%
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
3min chart confirmation: white MA crossing up yellow while above lowed dotted white line.
5min chart confirmation: vwap greater than lower dotted white line while with three candle confirmations above the white ma.
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
