15/06/2020
Updated
At the time I charted this but never published, it was a possible bearish set up. Now I am publishing it, it seems more the likely option to play out.
The purple trend lines drawn are weekly and daily S/R. The dotted white lines, more recently added to the chart and also S/R.
The MA lines shown are: 21MA in red, 50MA in yellow, 100MA in purple and 200MA in white. This would be a longer term trade set-up with possible profit targets along the way in the event of a major drop as Bitcoin looks to more and more correlated with the stock market at the minute, which I fully expect to have a bad week ahead.
I hope the chart explains itself but I have added the extra details needed to understand the expectations.
Using this set-up, the targets pointed out on the MA's and S/R, could also be used for a bullish set-up trade, if taken as intended.
NOT TRADING ADVICE AND DO YOUR OWN RESEARCH.
Thanks!
The purple trend lines drawn are weekly and daily S/R. The dotted white lines, more recently added to the chart and also S/R.
The MA lines shown are: 21MA in red, 50MA in yellow, 100MA in purple and 200MA in white. This would be a longer term trade set-up with possible profit targets along the way in the event of a major drop as Bitcoin looks to more and more correlated with the stock market at the minute, which I fully expect to have a bad week ahead.
I hope the chart explains itself but I have added the extra details needed to understand the expectations.
Using this set-up, the targets pointed out on the MA's and S/R, could also be used for a bullish set-up trade, if taken as intended.
NOT TRADING ADVICE AND DO YOUR OWN RESEARCH.
Thanks!
Note
The date I charted this was 8th June, and the white dotted lines are where the 100MA and 200MA would likely to be.Note
*Also at that time, the VPVR PoC was around the 8850 mark*
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