BTCUSDT.PMain Technical Trading Method -
1.Dow Theory - Have to breaking out high point or breaking down of low point
2.Average True Range - Volatility of High and Lows
3.MACD - Convergence and Divergence of Between 12MA and 26MA
4.Stoch RSI - Relatively Low Point Timing and Relatively High Point
5.Bollinger Bands - Using STD3 and Price boundary have to in that area ( 0 ~ 1 )
6.Stock to Flow Model - Valuation of Bitcoin
7.Fibonacci - Primary Level Point
8.Fixed Range Volume Profile - Primary Point of Control
Current Time - 03/2024 ( Week 3 )
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[1] Analyze the Current Chart Composition
[1.1] Overview
Well… Nobody thought it’s on this price,
it’s not just Phenomena
What we have to do is to hold your mentality and keep thinking about What’s Our Strategy
[1.2] Current Fibo Tracement
0.236 - 65K
0.382 - 60K
0.5 - 56K-57K
0.618 - 52K
[1.3] Current Fibo Extension
1 - 61K
1.618 - 75K
2.618 - 97K
[1.4] Support and Resistance Level
<Resistance Level>
Power Layer - None (Continuously All Time High)
<Support Level>
Power Layer -60K, 65k, 67k, 69k
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[2] Strategy 1 - Long
I think that We have to look at Log-Chart for Long-Term View,
So When you hesitate of Taking a Position, Just Do That Position and please
put the stop loss on your position
Because, We have to survive in the market
[2.1] Trading Set up
Risk / Reward Ratio = 7-8% ( 80K)
'Trailing Stop Function' gives you better 'Take Profit level' , as we think about Risk / Reward Ratio
Trailing Stop Least Position - 73K
Stop Loss - 71K
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[3] Strategy 2 - Short
Well, Currently
when we see the how the bitcoin moves, after Short-term sell positions occur, Somebody takes a long position quitely, So we have to think it's obviously 'Bull Market'
So When you are trying to Taking a Short Position, you should think very hard
Please See the Candlestick Pattern !!!
[3.1] Primary Fibo level
0.236 - 65K
0.382 - 60K
0.5 - 56K-57K
0.618 - 52K
[3.2] Trading Set up
Risk / Reward Ratio = 7 ~ 14
Profit - 7% ~ 14% , Loss - 1%
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[4] My Trading Set up
I'll do Long Position which Strategy is Number 1, but if it touches stop loss, Than i'll re-think of My Strategy
This is just My Strategy about BTC/USDT.P
You just use one of the References of Analysis
Good Luck Guys!!
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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.