BTCUSDT
BTC long setupBtc long from that support and the wicks indicates reversal of price action
Every trade is a battle and winning battles requires preparation. And since uncertainty is the only thing that’s certain about the markets, you should learn to identify the possible scenarios and prepare contingencies for them.
Having plans for every likely scenario increases your chances of closing your trades without losses.
Matic break out on weekly tfMatic rejected from resistance now testing trend support on the weekly time frame, a perfect time to open some swing trade in Matic to book profit from short
0.73-0.65 will be ideal support areas to book profit.
BTC/USD - Weekly OverviewThe past week had a quick change of sentiments as the world’s largest cryptocurrency is back again above the crucial psychological mark of $20K. The price level did make a weekly low of around $18.5K
Currently, the price level is testing both MA-100 and MA-200. However, the alarming aspect is that MA-50 is still showcasing negative nature which might hint that a routine correction might be on the way
The RSI also supports a similar sort of hypothesis as the level is near the overbought region and can face quick retracement. MACD level has finally started to formulate green bars and broke above the histogram for the first time this month.
Overall, Bitcoin has showcased a positive rally in this month and a profit booking momentum can be expected in the upcoming days. Support levels can be placed at $20K and $18K whereas the resistance levels can be placed at $23K and $25K.
Bitcoin (BTC/USDT) Short Position!Hello Cryptonauts,
In the BTC/USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag. Using the flagpole size we can target our short position at ~18541.
The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn't break down.
Our stop-loss will be at ~20115 above the pivot level (~20038).