Where Bitcoin Price is moving from here ?

Hi all,
I am back very quick with new bitcoin chart. In this I decided to explain various scenarios that could act and how we can tackle the situation.

Daily Chart :

From daily we can clearly say that the trend is extremely bullish however last candle is deceptive so from daily we can conclude that trend will result in upward movement if daily candle ends green along with follow up candle starting green. Else daily candle turning red is a clear sign of rejection whose trend will be based on larger time frames as discussed below.

Weekly Chart:

Weekly chart again little bearish but new week started green which can yield in a very positive upward movement however bad news is we can't conclude a week strength in few hours of weekly start so we are totally reliant on daily candle performance. So as discussed above if daily candle ended green along with follow up candle also starting green, weekly chart will boost the upward movement that will result in 11-12ks very soon however daily candle ending up red or follow up candle starting red can result in a good dip of weekly bars magnitude.

Monthly chart:

Monthly chart is Bullish so there is no need to expect heavy dips like 5k-6k range but we can see it may also retrace before next rise as you can see last 2 candles may favor tiny retrace (lacking retrace will beast mode bullish movement). So if you are a BTC holder just forget about btc trading and enjoy the normal work as it will only go up with or without retraces.

My conclusion in simplified version:
"Buy BTC if price crossed 9800(stabilized without a wick) else, Sell BTC if price hit under 9200(stabilised without a wick) as you can buy later down the price. If price stay in between 9350-9750, just stay out of the game. If there are quick wicks strongly avoid them from trading as volume is so low."

My Guess : My guess could be wrong and not advised to trade, but based on some experience I can favor bears a little here but again if bullish scenario met as explained I will support the bulls and start buying.

NOTE : Please feel free to like the chart and follow me if you like my work

Best,
Budha

Comment:

I warned in my conclusion stay way from trading in quick wicks "Buy BTC if price crossed 9800(stabilized without a wick) else, Sell BTC if price hit under 9200(stabilised without a wick) as you can buy later down the price. If price stay in between 9350-9750, just stay out of the game. If there are quick wicks strongly avoid them from trading as volume is so low." ....This can always happen when volume is less...some dolphins buy and a whale sells :)

However I am clear with the trend now and going to make my new chart soon in less than a day with new trade set up.

Best,
Budha

Comment:

I am staying away from longs as we can always long/buy later when confirmed.

Comment:

best buys are above 10k or anywhere near we find better entry. When I find a good entry to long I will come with new chart until then I suggest you stay neutral and wait with patience

Best,
Budha

Trade closed: target reached:

Hi all,
I published new chart here

and therefore closing this thread.

best,
Budha

Comment:

Check this out without fail