BTC @ Critical Support Level
Updated
The idea here is about BTC:
Since the last published idea about BTC
Right now we are at a very critical support level on a daily chart with ascending triangle formation. If price moves up we might have a resistance at
20.3K. This week will be crucial and will decide which direction the price is heading.
Points as per TA on a Daily Chart:
1. Ascending Triangle formation & broken out of falling wedge on daily chart as per below:
2. Bullish Cypher pattern completed on a weekly chart & potential trend reversal expected. Long Entry, Stop Loss, Targets are explained detail in the below chart:
3. Sea Pony (Advanced Harmonic pattern) completed on a weekly chart & potential trend reversal expected. Target and pattern explained in detail as per below chart:
4. Current trend from 8th November 2021 till date has formed a falling wedge pattern with Lower Lows (LL), Lower High (LH). The price is very close for breaking out of the trend as explained in the below chart:
5. Trading way below 50 & 200 EMA on daily & Weekly chart.
6. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a Monthly is strong buy, Weekly & daily chart is Strong bearish at the time of publishing.
7. RSI is at 42.89 on a Daily chart, 34.09 on a weekly chart & 41.69 on a Monthly chart at the time of publishing.
8. MACD almost converging towards signal line on daily chart, hopefully it will bounce back above the signal line.
9. Hull Moving average on a Monthly, Weekly is strong buy & daily is sell at the time of publishing.
10. Entry: I would suggest wait for confirmation on long or short entry. Since, unable to know which direction the price is heading. However, keep in watch list for the week & alert for price momentum.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis.
Do leave your valuable feedback & comments for any improvisations.
Cheers.
Since the last published idea about BTC
Right now we are at a very critical support level on a daily chart with ascending triangle formation. If price moves up we might have a resistance at
20.3K. This week will be crucial and will decide which direction the price is heading.
Points as per TA on a Daily Chart:
1. Ascending Triangle formation & broken out of falling wedge on daily chart as per below:
2. Bullish Cypher pattern completed on a weekly chart & potential trend reversal expected. Long Entry, Stop Loss, Targets are explained detail in the below chart:
3. Sea Pony (Advanced Harmonic pattern) completed on a weekly chart & potential trend reversal expected. Target and pattern explained in detail as per below chart:
4. Current trend from 8th November 2021 till date has formed a falling wedge pattern with Lower Lows (LL), Lower High (LH). The price is very close for breaking out of the trend as explained in the below chart:
5. Trading way below 50 & 200 EMA on daily & Weekly chart.
6. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a Monthly is strong buy, Weekly & daily chart is Strong bearish at the time of publishing.
7. RSI is at 42.89 on a Daily chart, 34.09 on a weekly chart & 41.69 on a Monthly chart at the time of publishing.
8. MACD almost converging towards signal line on daily chart, hopefully it will bounce back above the signal line.
9. Hull Moving average on a Monthly, Weekly is strong buy & daily is sell at the time of publishing.
10. Entry: I would suggest wait for confirmation on long or short entry. Since, unable to know which direction the price is heading. However, keep in watch list for the week & alert for price momentum.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis.
Do leave your valuable feedback & comments for any improvisations.
Cheers.
Note
Looks like a strong support. Bullish pin bar candlestick formation at the moment.
Note
Breakout
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