Technical Analysis Summary
BTC/USDT
FROM PAST (EXPLAINING WHAT HAPPENED)
BTC respected the DAILY suppport level (62701.8) (yellow level) then reached and respected 1hourly resistanse level (65656.1) (yellow level) and continued dowN to rech 15 minute suport (64433.9).
TREND ANALYSIS
We have 1 upward trend in white color and another down trend.
FUTURE PREDICTIONS
Techicals analysis can only predict move ahead
First Scenario
We can either continue going up and break the down trend and hit our first resistanse level 66326.8 (In Red) and start the reversal downward
or we can break the level and go to the greedier resistanse level 68405.1 and start reversal.
Second Scinario
We sart moving downward and break the up trend to reach the support level 60911.5 and start reversal upward.
I use the momentum indicator only as a additive to my trading but i dont base my trades on it.
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
Trading Involves High Risk
Not Financial Advice
Exercise Proper Risk Management
BTC/USDT
FROM PAST (EXPLAINING WHAT HAPPENED)
BTC respected the DAILY suppport level (62701.8) (yellow level) then reached and respected 1hourly resistanse level (65656.1) (yellow level) and continued dowN to rech 15 minute suport (64433.9).
TREND ANALYSIS
We have 1 upward trend in white color and another down trend.
FUTURE PREDICTIONS
Techicals analysis can only predict move ahead
First Scenario
We can either continue going up and break the down trend and hit our first resistanse level 66326.8 (In Red) and start the reversal downward
or we can break the level and go to the greedier resistanse level 68405.1 and start reversal.
Second Scinario
We sart moving downward and break the up trend to reach the support level 60911.5 and start reversal upward.
I use the momentum indicator only as a additive to my trading but i dont base my trades on it.
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
Trading Involves High Risk
Not Financial Advice
Exercise Proper Risk Management
Trade active
The hourly down trend held the move downWe should still check for hourly confirmation of the loss of the uptrend
Trade active
Our first resistanse level was hit and created the inverse as seen take profit can be taken when the hourly down trend is broken or on any good support level is hit
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.