BTCUSDT's Epic Showdown: Weekly EMA Battle for Supremacy
Updated
Hello Traders! :)
In this week's analysis, we witnessed an intriguing battle at the weekly EMA level for BTC. Unfortunately, this level held firm, and we are currently seeing accumulation around the lower boundary of the weekly Market Profile. At this level, we can observe the development of the weekly Market Profile's point of control, signifying a significant equilibrium point. My plan for this week is to make another attempt to break above the weekly EMA level.
Currently, a LONG signal has been generated on the Multi-timeframe MACD, indicating a green light for seeking long positions at this juncture. I will initiate the trade after the LONG signal is confirmed by a Heikin Ashi candle.
My initial take profit target is set upon reaching the level of the weekly EMA line, with potential for holding the position longer depending on price behavior.
I will exit the trade if the price falls below the weekly Market Profile, canceling out potential further losses. Additionally, I will consider exiting the trade if the weekly EMA level is rejected, securing any generated profits. If the price successfully breaches the EMA level and holds, I will consider continuing the trade.
Good luck with your trades!
In this week's analysis, we witnessed an intriguing battle at the weekly EMA level for BTC. Unfortunately, this level held firm, and we are currently seeing accumulation around the lower boundary of the weekly Market Profile. At this level, we can observe the development of the weekly Market Profile's point of control, signifying a significant equilibrium point. My plan for this week is to make another attempt to break above the weekly EMA level.
Currently, a LONG signal has been generated on the Multi-timeframe MACD, indicating a green light for seeking long positions at this juncture. I will initiate the trade after the LONG signal is confirmed by a Heikin Ashi candle.
My initial take profit target is set upon reaching the level of the weekly EMA line, with potential for holding the position longer depending on price behavior.
I will exit the trade if the price falls below the weekly Market Profile, canceling out potential further losses. Additionally, I will consider exiting the trade if the weekly EMA level is rejected, securing any generated profits. If the price successfully breaches the EMA level and holds, I will consider continuing the trade.
Good luck with your trades!
Note
taking off?
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