BTCUSD 30M MACD ANALYSIS
Updated
Here is a simple macd indicator showing the next support and resistance triangulation setup.
Support is showing solid bullish divergence (green line) against a normal looking resistance trend line (red line)
I'm bullish on bitcoin simply because of the mining halving. Doesn't mean the bulls will win here.
But what it does mean is that you can set yourself up for a great entry point - whether you are bullish or bearish - and minimize the risk/exposure zone which is key to being a successful trader.
Fakeouts are always a possibility. So it's vital to find good entries that can allow you to protect your position with minimal negative stop loss.
Set alerts on trend lines and let tradingview work for you
Support is showing solid bullish divergence (green line) against a normal looking resistance trend line (red line)
I'm bullish on bitcoin simply because of the mining halving. Doesn't mean the bulls will win here.
But what it does mean is that you can set yourself up for a great entry point - whether you are bullish or bearish - and minimize the risk/exposure zone which is key to being a successful trader.
Fakeouts are always a possibility. So it's vital to find good entries that can allow you to protect your position with minimal negative stop loss.
Set alerts on trend lines and let tradingview work for you
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Entry at 6955Set stop loss alert under support line
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Still in play but running out of time. Stop loss set at 6924.99 = - %0.42
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Trade closed manually
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