Long

BTC Support off 60K? : 62250 Confirmation needed

Updated

30 Min Supertrend / Ehlers VIDYA Stragety.

Significant touch back to 60K price level.
BTC failed to make a NEW all time high after the 73.6k new all time high was achieved.
Upon failure, new lows have continued to 60k.
30m Stragety signal shows support @ 60k touch.
Stragety signal and NEW UPtrend will confirm the 60k BASE, with a Heikinashi close @ or above the trailing cloud line (Ehlers VIDYA) - currently at the inception of the signal at 62250.

62250 confirms 60k BASE.

https://www.tradingview.com/script/rUu1lfnZ-Ehlers-Variable-Index-Dynamic-Average-CC/

Note

The above chart refrences the Ehlers VIDYA indicator, which is responsible for the Supertrend signals both long/short.

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The price has achieved the Ehlers crossover point. This confirms a trend reversal for the 30m strategy and reiterates the drop to 60k is a confirmed LOW. The price action and volatility will determine how long and to what extent the new Long/buy bias it valid.

Note

Another touch back at 60K, immediately bought back up, with another trend reversing signal on the 30M strategy. The double bottom idea now becomes a longer term posture, going into the halving. Again, 60K holds support and buyers step in.

Note

All the way back to 65k, just 12hrs before the halving event. Double bottom in effect. Should be tougher for bears to push passed 60k again.

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I know some traders have discussed the price action on the dollar index or DXY. I personally think the DXY is at the top of historically high ranges. Not that there IS or IS NOT a correlation between the DXY dollar index and BTC. But typically pairs do inverse eachother. For example. Dollar index goes UP, negative pressure on BTC, Dollar goes down, positive pressure on BTC. DXY is a relationship between the 5 major currency's and will be discussed later. I have a strategy for DXY that trades the longer term ranges of the 4hr chart. I also have a 3hr BTC strategy so a comparison may be warranted in the future.

Note

3HR STRATEGY JUST FIRED OFF FRESH LONG { POTENTIAL 66K ZONE AVAILABLE }

The overnight session just before a major even is supposed to be boring. Bitcoin keeps holding the 30m uptrend and NOW has a fresh 3hr uptrend.
The 3hr strategy has been short for 5days. This overnight session has BULLS in charge leading into what ever happens at the official halving.

Note

NEW 3HR BUY, JUST AT SHORT/LONG CROSSOVER.

60K BASE, potential resistance around 67-68k range.
-caution weekend trading is often boring or volitle and unpredictable-

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66k was achieved

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Followed by the TP. Please close 1/2 of your position.

Ace_of_Waters

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Related publications

Ehlers Variable Index Dynamic Average [CC]

by cheatcountry

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