BitcoinLong
My trading strategy for may, Will BTC rise again ?
Updated
Hello traders !
I drawed this fib channel to have some insights on our potential support level, and it seems that we're on it and we reacted perfectly to it !
When we zoom in on that fib line we will see an inversed head & shoulders pattern has perfectly shaped on that support level and bounced 10% from the 29,7k level.
Insights about the markets :
All the markets has scored a negative results since the 29th of march, and when I say all the markets I mean ALL THE MARKETS. This is due to multiple factors :
1) Interest rate increase.
2) American GDP is negative for the first quarter of the year. If by june it makes another negative quarter, we're by definition in a recession. In a recession the investment mindsets shifts and the investors orientation change.
3) Inflation caused by covid lockdowns, supply chain disruption and Ukrain-Russia war !
What's next ?
I think we're going to see a relief rally since all the markets has priced in these changes so far and maybe we wil be seeing a bounce back to the 36k level.
I recommand using your trend following trade strategy when the prices are above or below the 50 EMA !
________________
Like and follow this idea to recieve trading signals !
I drawed this fib channel to have some insights on our potential support level, and it seems that we're on it and we reacted perfectly to it !
When we zoom in on that fib line we will see an inversed head & shoulders pattern has perfectly shaped on that support level and bounced 10% from the 29,7k level.
Insights about the markets :
All the markets has scored a negative results since the 29th of march, and when I say all the markets I mean ALL THE MARKETS. This is due to multiple factors :
1) Interest rate increase.
2) American GDP is negative for the first quarter of the year. If by june it makes another negative quarter, we're by definition in a recession. In a recession the investment mindsets shifts and the investors orientation change.
3) Inflation caused by covid lockdowns, supply chain disruption and Ukrain-Russia war !
What's next ?
I think we're going to see a relief rally since all the markets has priced in these changes so far and maybe we wil be seeing a bounce back to the 36k level.
I recommand using your trend following trade strategy when the prices are above or below the 50 EMA !
________________
Like and follow this idea to recieve trading signals !
Note
Preparing for long entry at 30,9k - 30,8K interval ! Stay tuned for SL and TP
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