my first long analysis on BTCUSD (1 day)
this is my first analysis on tradingview I have been inspired by the larger analysts I keep working on developing in a few years to understand the market well.
As you can see on the time frame of a day this year starts with a downtrend the first low the second and in the third the support is touched with a double bottem which usually means a reversal pattern. in this way a floor and a strong support were created.
after having gone up again and breaking the resistance on 8943.70 with doubts.
towards the 11538.98 again a strong resistance is made where I have placed a trendline.
back to old level and again towards the trendline know that he is broken but must also be respected again.
waiting to go to its resistance when no breakthrough forms an M-shape which makes a perfect moment for a sell-order by means of the candle stick patterns of hanging man and the inverted hammer which is the result of a bearish reversal pattern.
after the downtrend to go back to the old level to bounce with a double bottem (reversal pattern) and leave the support to the resistance where there is trouble breaking through which eventually succeeds and makes floor.
here you see the famous candle stick pattern the double top or tweezer tops.
at the first double top the support is not broken, which follows to the bounce at the price level which follows another double top to which the support is broken and we can place a new trend line.
At the downtrend, the level of the trend line is respected and continues downwards towards the strong support that has not been breached 2 times before but where it is now in the zone.
what I think is going to happen is when the support level is respected and the trend line is broken, the bitcoin in uptrend will go at what speed unknown.
what I have done is the fibonacci tool used to create the zones.
where the price will go first after the outbreak you could bet on and the number of pips / dollars to the 23.6% fibonacci level
When prize breaks through the support level, the new level of support is created where the prize will bounce and then go up to the certain first fibonacci level.
I'd like to hear your opinion about tips and materials that I could deepen
to eventually become better and together think about the steps strategically.
thanks you see quickly
As you can see on the time frame of a day this year starts with a downtrend the first low the second and in the third the support is touched with a double bottem which usually means a reversal pattern. in this way a floor and a strong support were created.
after having gone up again and breaking the resistance on 8943.70 with doubts.
towards the 11538.98 again a strong resistance is made where I have placed a trendline.
back to old level and again towards the trendline know that he is broken but must also be respected again.
waiting to go to its resistance when no breakthrough forms an M-shape which makes a perfect moment for a sell-order by means of the candle stick patterns of hanging man and the inverted hammer which is the result of a bearish reversal pattern.
after the downtrend to go back to the old level to bounce with a double bottem (reversal pattern) and leave the support to the resistance where there is trouble breaking through which eventually succeeds and makes floor.
here you see the famous candle stick pattern the double top or tweezer tops.
at the first double top the support is not broken, which follows to the bounce at the price level which follows another double top to which the support is broken and we can place a new trend line.
At the downtrend, the level of the trend line is respected and continues downwards towards the strong support that has not been breached 2 times before but where it is now in the zone.
what I think is going to happen is when the support level is respected and the trend line is broken, the bitcoin in uptrend will go at what speed unknown.
what I have done is the fibonacci tool used to create the zones.
where the price will go first after the outbreak you could bet on and the number of pips / dollars to the 23.6% fibonacci level
When prize breaks through the support level, the new level of support is created where the prize will bounce and then go up to the certain first fibonacci level.
I'd like to hear your opinion about tips and materials that I could deepen
to eventually become better and together think about the steps strategically.
thanks you see quickly
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