Bitcoin / TetherUSShort
BTC Overbought Up to 7% decline 11 04 2022
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Analysis:
On the 3 min charts, BTCDOWNUSDT 3 candle confirmation occurred at around $20,814. This implies a current overbought condition for BTCUSDT. 2-candle confirmation on the 5 minutes chart above the yellow moving average and a 1-3-candle confirmation above the lower white dotted fib line on the 3 min chart were also confirmed.
The projected entry zone is anywhere between $20,950 and $20,814. Based on this analysis, we should expect around 0.71% to 7% downward movement for BTC from this point. This might be achieved either by end of the day or over the course of the next 3 days.
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
Analysis:
On the 3 min charts, BTCDOWNUSDT 3 candle confirmation occurred at around $20,814. This implies a current overbought condition for BTCUSDT. 2-candle confirmation on the 5 minutes chart above the yellow moving average and a 1-3-candle confirmation above the lower white dotted fib line on the 3 min chart were also confirmed.
The projected entry zone is anywhere between $20,950 and $20,814. Based on this analysis, we should expect around 0.71% to 7% downward movement for BTC from this point. This might be achieved either by end of the day or over the course of the next 3 days.
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.