$BTC still chugging alongRSI is good to see exhaustion, strength, and other signs.
HOWEVER
Like ANY indicator, it's just a HELP & should NEVER be the basis of a trade.
Here's a perfect example.......
Looked as if weakening but CRYPTOCAP:BTC keeps going & slowly gets closer to 1st target we called some time ago.
RSI didn't break 50 & this is a HUGE win for #BTC bulls!
#Bitcoin buys still > sells, seen easier on 4Hr chart.
Cryptp
#XRPOverlapped wave 1. Therefore, the whole structure has moved in a three-wave form. A complex corrective structure can be seen in the 4-hour timeframe, which should be expected to break the 0.48 level.
Otherwise, you should wait for the bottom of the blue PRZ zone channel and even 0.34.
We should probably see a consolidation above 48 cents. Therefore, it should be able to maintain the range of 40 cents, which has the ability to grow up to 76 cents in the continuation of the 3rd upward wave.
If the behavior and structure of the post changes, it will be updated.
be profitable
BTC, short term setup for the bears.BTCUSD / 1D
Hello traders, welcome back to another market breakdown.
Bitcoin has been trading in a down trend, the price now is trading near the last swing low on the weekly where trapped bulls are still stuck with long positions.
checkout my plan to get short if it respects it, otherwise bulls are aggressive and you don't want to get in the way.
Trade safe,
Trader Leo.
BTC - Market Structure 101Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
BTC has been overall bearish for a while making lower highs and lower lows. and as mentioned in my previous videos, we knew that the bears were exhausted as the impulse movements were getting smaller in size.
Last week, the bulls took over by breaking above the last major high market in red.
So now the momentum is shifted from bearish to bullish. Of course this is just from a short-term perspective. As BTC is still overall bearish from a long-term perspective.
As per market structure 101, we are now expecting a correction and then we will be looking for buy setups on lower timeframes as a trend-following setup.
Our closest rejection, where the bulls might kick in, would be around the previous major high (red zone)
As BTC approaches this zone I will be looking of any bullish reversal setups on lower timeframes (like double bottom, trendline and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
XRP still in decision zoneI published these levels a while back and we see XRP respecting these support levels time and time again , each time with increasing volume . We could still be in the phase of building a bottom , which can take a while and price could go sideways for a quite a bit here. But these levels are superb for trading and for longterm entries. But I'd sell if price significantly drops below , chances are then that we see a huge sell off. But for now, I'm a bull and see those levels as an opportunity . And the technicals line up with the fundamentals . Ripple is killing it and the price could finally stabilise here for the long awaited bull run .
Trade well and hodl on
Phil