BTC Daily Analysis. The possibilities and what to look out for
Indicators used. Camarilla pivots on monthly levels. Linear regression. HH HL LL LH with RSI. / Oscillation, ppo, shaff trend / MacD
The Green and bullish path would indicate us breaking H4 and closing over it on a daily. The target would be H5. If this happens stoploss would be H3. To see these happen we would want to see more consolidation in the levels we are currently in without breaking and closing under the H3 beforehand.
The yellow path is the healthy correction path and what it seems we might be more likely to take at this moment. We see some warning flags. such as caution dots on the daily as well are grinding under a downward linear regression channel and a daily mac-D cross down confirmed. for a trade on this path one would want to see a daily close under the H3. Target the L3. with a stoploss at the H4
The red path would only be if we took the yellow path and the bounce on the monthly L3 did not resolve a bounce. For this play one would want to see a daily close under the L4 and enter with a target of L5 and a stop loss at the L3.
Personal Idea. I think it is not out of the realm of possibilities to see the corrective path at least. I am not supper bullish nor bearish in this place. The daily indicators at the current moment lean on it more in my personal experience. It should be noted I trade using pivot points and static levels and not Moving averages. So DYOR and trade to your plan and liking. This is not financial advice. Just the way Isee it.
The Green and bullish path would indicate us breaking H4 and closing over it on a daily. The target would be H5. If this happens stoploss would be H3. To see these happen we would want to see more consolidation in the levels we are currently in without breaking and closing under the H3 beforehand.
The yellow path is the healthy correction path and what it seems we might be more likely to take at this moment. We see some warning flags. such as caution dots on the daily as well are grinding under a downward linear regression channel and a daily mac-D cross down confirmed. for a trade on this path one would want to see a daily close under the H3. Target the L3. with a stoploss at the H4
The red path would only be if we took the yellow path and the bounce on the monthly L3 did not resolve a bounce. For this play one would want to see a daily close under the L4 and enter with a target of L5 and a stop loss at the L3.
Personal Idea. I think it is not out of the realm of possibilities to see the corrective path at least. I am not supper bullish nor bearish in this place. The daily indicators at the current moment lean on it more in my personal experience. It should be noted I trade using pivot points and static levels and not Moving averages. So DYOR and trade to your plan and liking. This is not financial advice. Just the way Isee it.
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.