cryptotweezer

cryptotweezer

price breaking monthly support zone (20 MA) if todays daily candle close below our level and next daily candle do not close above we can confirm the breakout

cryptotweezer

other way to see our analysis would be taking the price swings on 4H chart and looking for those important levels to break

cryptotweezer

once you see possible change on trend in the action price you can use other indicators to help you support your case such as MACD and RSI. let's see if our indicators can help us to validated or analysis. RSI January 22 (RSI signal line) was under oversold territory (we can take it us a LOW) February 22 (RSI signal line) was again under oversold territory but...

cryptotweezer

If we want to build a bullish scenario, price has to respect some levels in 4H to build the support for a run. remember support or resistance levels of 4H are not as strong as the levels in higher timeframes, those levels help us to identify possible change in the trend. if you want to place a long position base on 4H your target must be accordly with the time frame.

cryptotweezer

if we zoom in a bit to 4H chart, we can notice that from november 26th to febrary 3rd the movement of EMA 200 (blue) and EMA 50 (red) 4 hours was down trending. but now is making a sideways movement, that could be an eraly signal of a trend changing or a consolidation before downtrend continuation.

cryptotweezer

support zone (20 MA monthly) holding the price, if the price and just if the price breaks the level we could see a continuation down

cryptotweezer

here you have same example but in monthly chart price losing MA 20 monthly to touch base on EMA 50

cryptotweezer

if you notice EMA 50 monthly would be almos the same as EMA 200 weekly chart. when price breaks EMA 50 in a bullish trend always our next dynamic technical support would be EMA 200 have a look what happened last time price broke EMA 50 in the weekly chart!

cryptotweezer

closing below MA 20 monthly would be a call to touch base on EMA 50 monthly 25K to 20 K

cryptotweezer

A BCR of 20 MA monthly would be a call for downtrend movement

cryptotweezer

this is how would look the complete movement. most of the traders are waiting for the retest of lower levels based on the head and shoulders pattern,

cryptotweezer

this is the movement we are looking for to place longs base on weekly and monthly analysis

cryptotweezer

if we want to make a call for (long term) longs base on weekly and monthly chart we have to close a full body weekly candle above two technical levels - monthly level (EMA 5 ) - weekly level (MA 20 ) those levels match with our weekly resistance as well

cryptotweezer

looks like price is rejecting 20 MA monthly the confirmation to place longs would be price closing above Monthly EMA 5 (yellow line)

cryptotweezer

price could be testing strong support at 36K (20 MA monthly) for now the level is holding the price strongly

cryptotweezer

weekly chart price bouncing between two strong levels of support and resistance strong support around 36K strong resistance around 49K breakout of 49K next resistance level 67K breakout of 36K next support level 25K to 30K

cryptotweezer

example of how a BCR down looks and how you can identify it

cryptotweezer

BCR strategy could be very powerful to identify possible down or up entry points, this trick can help you to improve your trading strategy by a lot