ShinForex1
Long

Bitcoins is going to dump to 7500 liquidity level

GEMINI:BTCUSD   Bitcoin / U.S. Dollar
TOP DOWN ANALYSIS

WEEKLY TIMEFRAME
----We see price formed a W formation indicating a double bottom formation which indicate a strong super bullish uptrend after we break the neckline around 13000 level.

----Price is above the EMA indicating a continuation to upside(uptrend)

DAILY TIMEFRAME

-----Price is consolidating between the upward channel

---- Also EMA crossover in daily timeframe and price are below the ema indicating we might have a slight retracement to downside to collect liquidity before move up

---key zone to watch for liquidity test is around 7500 level cause it was a point of control for accumulation phase

----Price has to break structure 8500 and go below the pick region for a continuation to downside

--- estimate liquidity zone is around 7500 which come in confluence with 78.6 fib level


H4 TIMEFRAME

----Price has formed double top and EMA crossover to dowside. so h4 timeframe and daily are coming together indicating a temporary dowside shift of momentum

----price is forming lower highs and lower lows

H1 Timeframe

---- price is below the ema and we shall see a continuation to down side and key level to watch is the support level of the necklike of double top

-- price as expected to retest the accumulation point of control before moving to upside


DOnt leverage a lot in future trading or margin trading to avoid liqudation

wait for confirmation before taking a trade and ema crossover from daily,h4 ,H1 TIMEFRAME before going long



thanks you
18 hours ago
Comment: i will do a detailed explanation video on btcusd . follow me to get notified and i will be dropping so much info. get ready

Comments

Here is what I will be following at the moment in BTCUSD
Reply
ShinForex1 VincePrince
@VincePrince, yeah still valid. we need to see break of structure to visit the zone around 7500 looks solid
+1 Reply
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