Btc!
Selling opportunity in Niftylets see if we can secure this trade with at least 1:1 RR. SL of 50 points
Candle close above 17840 will change every thing Until then its a good risk reward.
I am posting this for Live testing purpose.
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating
BTC/USD - Weekly OverviewThe world’s largest cryptocurrency has developed positive sentiment during the past week as the price level maintained sustainability above the psychological mark of $20K.
Moreover, the price level was able to have a positive breakout above the resistance zone between 0.786 FIB level and 0.618 FIB level and attained a new weekly high of nearly $21.5K. However, price sustainability above 0.618 FIB level looks doubtful as BTC just had a negative breakout below it.
Considering the moving averages, BTC is unable to maintain sustainability above MA-10 in a shorter timeframe. However, to avoid any sudden strong negative divergence, MA-50 is proving to be a significant support provider.
Looking at the technical indicators, RSI is showcasing negative nature with a breakdown below 50. The MACD level has also faced a bearish crossover and started to form red bars on the histogram.
Overall, BTC has strong support at $20K and $18K for avoiding any sharp negative fall. If the bulls are able to withstand, resistance levels can be placed at $22K and $24K respectively.
💡Don't miss the great buy opportunity in BTCUSD @BitcoinTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (20913).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. BTCUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
Take Profits:
TP1= @ 21469
TP2= @ 21813
TP3= @ 22667
TP4= @ 23577
TP5= @ 24436
SL= Break below S2
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BTC/USD - Weekly OverviewThe world’s largest cryptocurrency has developed positive sentiment during the past week as the price level climbed above and maintained sustainability above the psychological mark of $20K.
Building upon the positive sentiment, BTC tested the resistance at $21K which is placed at 0.618 FIB level on the Fibonacci retracement table. But it did not have a positive breakout above the resistance level and currently facing moderate profit booking momentum. It could be expected that there’s a support build-up present at 0.382 FIB level.
Considering the technical indicators, the RSI level is showcasing negative nature and is vulnerable to breaking below 50. The MACD level has also formed a bearish crossover and started to form red bars on the histogram.
Overall, BTC has formed strong support points at $19K and $18K, respectively. On the opposite, if the positive trend prevails throughout this week, it could also test resistance present at $21K and $23K, respectively.
BTC USDT bear-market analysis. Posting after a long time -
Okey so this cypher is still my Original plan. Invalidation is BTC crosses 25250 before reaching 16.2-15.5 k range. Still the price is almost 30-35 % high from there. Spread is quite high so m still trading levels by levels locally. Daily closing below 20300 will be fine for this plan and below 19200 pivot is increased probability of this playing out.
Still sitting there 60% tethered.
Stay tuned for more. :)