BTCUSDT
BTC price action I am sharing 4hr timeframe chart just to give you all clear view of what happening with regards to $BTC
Since BTC started its downward movement after hitting 69k. BTC was moving downward in a parallel channel. After the breakout of the channel. BTC got rejected at 51.9k and again it started moving in a new downward Parallel channel.
As you can see BTC price is still going downward but the RSI is moving up. Which is a hidden bullish divergence and same divergence can be seen on daily timeframe.
Note: These are just my observations. Kindly DYOR.
BTC is Bounce back to support and ready to go to high.#BTC bounced as said, price took a support around $49,500 and on ut way to break swing structure. Well, continue as pretty much same again. $51,700 - $51,950 will act as resistance. Probability is high for a break now. $52,900 - $53,600 is the major resistance where price can move till. Monthly close is near, so we need a closing above $52,000 for bullish continuation.
BTCUSDT SHORTI hope you can now see how BTCUSDT represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.