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Bitcoin-btcusd

BTC/USD - Weekly OverviewFor the past week, Bitcoin faced the wrath of bears as it slipped below the crucial psychological mark of $20K. It has registered a new 52-week low of around $17,500 on the charts. A figure that is not wished by anyone. However, there has been a positive bounceback since then. We are witnessing a potential bullish crossover in the MACD which could possibly hint of more positive momentum ahead. The price level is also looking to develop sustainability above MA-10. On the contrary, if we face profit booking momentum again, support levels can be placed at $20K and $18K. However, if the ongoing positive momentum is sustained, the world’s largest cryptocurrency can face resistance at $22K and $24K respectively.
COINBASE:BTCUSDLong
by TradeDog-Research
Bitcoin's lifetime Fibonacci Lines & DiaryBitcoin is going to face pressure from two support lines that you can see on the chart and while people find a lot of correlation between S&P 500 Index Chart to that of bitcoin, we can assume that there's huge volatility across the global markets and not just cryptocurrencies. I've drawn multiple scenarios for reversal without having an ambitious target like bitcoin maximalists or Cathie Woods. It's possible but not anytime soon. Stick to entering your positions on any resistance line that could potentially become support. And stay away from scalping for a few weeks :D
INDEX:BTCUSD
by mrinalsethi
#Bitcoin Trading Plan 27-28 Jan 2022Given yesterday's wild moves especially post the Fed's hawkish announcement I hold a neutral stance today as it remains to be seen which way the market wishes to lean towards; although to be fair, the signs do look bearish. But anyway we have a system and we trade that. Here's what it looks like: In this chart of Bitcoin I have marked 4 price levels which have been determined based on a proprietary calculation that I have developed. The zone between the top-most and bottom-most price levels is a strict "No Trade Zone". If Bitcoin's price crosses the top-most price level, we will be looking for long opportunities and if Bitcoin's price crosses the bottom-most price level, we will be looking for short opportunities. Entry criteria: Bullish case: Enter as soon as a 5-minute candle CLOSES above the top-most price level. Bearish case: Enter as soon as a 5-minute candle CLOSES below the bottom-most price level. Stop Loss criteria: Risk: 2% of capital of per trade. Bullish case: Just below the second price level from the top. Bearish case: Just above the second price level from the bottom. Take profit criteria: I personally follow a system wherein I do nothing until 1:1 RR is achieved. But post 1:1 RR is achieved, I adjust stop loss to cost. I then exit 1/3rd of entered quantity based on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . I exit 1/3rd of entered quantity at fixed take-profit level of 1:3 RR. And I exit the final 1/3rd of entered quantity based on a system of setting stop losses that are dynamically adjusted to the nearest retracement after a Day High Breakout (in bullish case) or Day Low Breakout (in bearish case). I have also experimented with systems wherein you can set take-profit at a fixed level of 1:3 RR or alternatively after 1:1 is achieved book full quantity vased on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . Both of these alternative systems have also been profitable. Please note the given zones are valid only until the end of the day. Any open positions must be closed by 05:25 AM IST which is around when the day is about to end in the cryptocurrency markets. The mentioned zones will become irrelevant post that. Also please note: according to the rules of my system, I don't take more than 3 trades per day on any asset.
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by abhineetramjiwal
#Bitcoin Trading Plan 26-27 Jan 2022In this chart of Bitcoin I have marked 4 price levels which have been determined based on a proprietary calculation that I have developed. The zone between the top-most and bottom-most price levels is a strict "No Trade Zone". If Bitcoin's price crosses the top-most price level, we will be looking for long opportunities and if Bitcoin's price crosses the bottom-most price level, we will be looking for short opportunities. Entry criteria: Bullish case: Enter as soon as a 5-minute candle CLOSES above the top-most price level. Bearish case: Enter as soon as a 5-minute candle CLOSES below the bottom-most price level. Stop Loss criteria: Risk: 2% of capital of per trade. Bullish case: Just below the second price level from the top. Bearish case: Just above the second price level from the bottom. Take profit criteria: I personally follow a system wherein I do nothing until 1:1 RR is achieved. But post 1:1 RR is achieved, I adjust stop loss to cost. I then exit 1/3rd of entered quantity based on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . I exit 1/3rd of entered quantity at fixed take-profit level of 1:3 RR. And I exit the final 1/3rd of entered quantity based on a system of setting stop losses that are dynamically adjusted to the nearest retracement after a Day High Breakout (in bullish case) or Day Low Breakout (in bearish case). I have also experimented with systems wherein you can set take-profit at a fixed level of 1:3 RR or alternatively after 1:1 is achieved book full quantity vased on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . Both of these alternative systems have also been profitable. Please note the given zones are valid only until the end of the day. Any open positions must be closed by 05:25 AM IST which is around when the day is about to end in the cryptocurrency markets. The mentioned zones will become irrelevant post that. Also please note: according to the rules of my system, I don't take more than 3 trades per day on any asset. P.S. I hold a neutral stance today as I am not quite sure about the direction towards which the market is leaning; BTC seems to be close to a major support but also has been showing significant weakness over the past few days. But like always - my view does not matter as I trade the price and the system and not expectations.
B
by abhineetramjiwal
#Bitcoin Trading Plan 22-23 Jan 2022In this chart of Bitcoin I have marked 4 price levels which have been determined based on a proprietary calculation that I have developed. The zone between the top-most and bottom-most price levels is a strict "No Trade Zone". If Bitcoin's price crosses the top-most price level, we will be looking for long opportunities and if Bitcoin's price crosses the bottom-most price level, we will be looking for short opportunities. Entry criteria: Bullish case: Enter as soon as a 5-minute candle CLOSES above the top-most price level. Bearish case: Enter as soon as a 5-minute candle CLOSES below the bottom-most price level. Stop Loss criteria: Risk: 2% of capital of per trade. Bullish case: Just below the second price level from the top. Bearish case: Just above the second price level from the bottom. Take profit criteria: I personally follow a system wherein I do nothing until 1:1 RR is achieved. But post 1:1 RR is achieved, I adjust stop loss to cost. I then exit 1/3rd of entered quantity based on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . I exit 1/3rd of entered quantity at fixed take-profit level of 1:3 RR. And I exit the final 1/3rd of entered quantity based on a system of setting stop losses that are dynamically adjusted to the nearest retracement after a Day High Breakout (in bullish case) or Day Low Breakout (in bearish case). I have also experimented with systems wherein you can set take-profit at a fixed level of 1:3 RR or alternatively after 1:1 is achieved book full quantity vased on 5 minute candle close below ( bullish case) or above ( bearish case) 15 EMA . Both of these alternative systems have also been profitable. Please note the given zones are valid only until the end of the day. Any open positions must be closed by 05:25 AM IST which is around when the day is about to end in the cryptocurrency markets. The mentioned zones will become irrelevant post that. Also please note: according to the rules of my system, I don't take more than 3 trades per day on any asset.
B
by abhineetramjiwal