#BTC (weekly update)
Technical analysis:
Hello everyone, welcome to this quick update:-
For the First time Since April 2020, After 8th consecutive Weekly Candle Closed above the 50 WMA now Bitcoin weekly closed Below the WMA50 & Lowest Weekly Close of the Year As well.
So far Bears Looking Weak & Bitcoin is Still Moving Above the 30k Horizontal Support Area as...
Mothersumi horizontal support & resistance.
Current price breached the resistance and became support.
stop-loss below the support line.
(Trading is probability.)
It is a beautiful range sandwiched between Pivot Points.
It will be a simple point of trying to short.
<< tactics >>
1) When MPP (P) 0.68568 functions as a resistance line, consider a short entry.
The first limit is WePP (P) 0.67879
The second limit is WePP (S1) 0.67351
2) If you penetrate MPP (P) upwards, wait for a long entry opportunity.
Please note that...
It ranges from MPP to YPP since last month.
If it is assumed that the moon starts moving since the moon has changed, it will be the flow that aims at shorting from here again.
<< tactics >>
1) Consider a short entry when MPP (P) functions as a resistance line.
The first limit is WePP (P) 0.73924
The second limit is WePP (S1) 0.73423
WePP will be updated...
If YPP (P) 1.08720 functions as a support line, think long.
The first limit is WePP (R1) 1.09559
The second limit is 1.10000
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the...
When MPP (P) functions as a resistance line, consider long entry.
First limit: WePP (P) 0.99610
Second limit: 1.00000
Third limit: 1.00400
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points...
We shall not regard bitcoin as a special one.
In that case, even if it change to uptrend, the range is included once.
If the current situation is that part,
Currently I think that we can look at Long: Short = 50: 50.
Most recently, I aim at trading using MPP (R1).
<< tactics >>
When MPP (R1) 7613.0 functions as a resistance line, short entry is done....
We can see from weekly that volatility became apparently small since 2017.
weekly
140.000 - 155.000 Both of the upper and lower of the range are blank.
Therefore, if you go outside one of the upper and lower ranges, it may be possible to expect volatility to recover.
Since it is the most recent range, I will aim for...
<< tactics >>
If YPP (S1) functions as a support line, think of a long.
The first limit is WePP (P) 0.6800
The second limit is WePP (R1) 0.68411
Since it is a weekend, be careful that WePP will update on Monday.
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly...
If MPP (S1) functions as a support line, think long.
The first limit is 70.00
The second limit is under MPP (P) 70.77
The third limit is under YPP (R2) 72.62
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line:...
If it judges that YPP (P) functions as support, it will be long.
The first limit is WePP (P)
The second limit is near the most high value of 1.09800
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly...
Because my trading can not catch up, please allow me to write it briefly.
<< tactics >>
When judging that 2800.0 functioned as a resistance line, I will short.
The first limit is on MPP (R1)
The second limit is on WePP (S2)
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick...
I think that the range of 22000-23000 will not last long.
Following the course,
July 2: It penetrated down 22000 that is the neckline of the blue double bottom.
July 5: It was bounced back by YPP (P) and returned to the range.
July 9th and July 12th: It went up as attacking the short entry on July 2nd while swinging around.
After the movement of attacking...
