BTCUSDT $20080 Weekly Update August 28 2022 #35
BTCUSDT $20080 Weekly Update August 28 2022 #35
BTCUSDT ( $20080) bears are now moving towards the 19-18.3k temporarily support.
Indicators (MACD/RSI) from 12h up to 2D are pointing down.
This indicates that bears are controlling the short-medium term trend. However, bears will need the 3D macd to cross negative to get a full control of the trend.
There is a possible // channel on the making if the 3D does not cross negative.
So bulls still have 25-30% chance to retest the W21e in the next few weeks "if" the 3D macd refuses to go negative. So make sure to still have Sl at 24k
So 2 important things to keep an eye on in the next few days/weeks are:
1)The 3D macd to cross negative for price action to make lower lows
2)Or the 3D macd to push up and allows price to retest the W21ema
I'm staying with the short position till I get enough data for option 2 above to open a long
However, the 19-17k range is still a good support area as price could retest the W21ema either in late Q3 or sometimes in Q4.
This will give bulls a chance to sell again at the W21ema price rallies back up.
The M100ema is at ~16500.
The M100sma is at ~12000
I will cover the M time frame after the M close.
BTCUSDT ( $20080) bears are now moving towards the 19-18.3k temporarily support.
Indicators (MACD/RSI) from 12h up to 2D are pointing down.
This indicates that bears are controlling the short-medium term trend. However, bears will need the 3D macd to cross negative to get a full control of the trend.
There is a possible // channel on the making if the 3D does not cross negative.
So bulls still have 25-30% chance to retest the W21e in the next few weeks "if" the 3D macd refuses to go negative. So make sure to still have Sl at 24k
So 2 important things to keep an eye on in the next few days/weeks are:
1)The 3D macd to cross negative for price action to make lower lows
2)Or the 3D macd to push up and allows price to retest the W21ema
I'm staying with the short position till I get enough data for option 2 above to open a long
However, the 19-17k range is still a good support area as price could retest the W21ema either in late Q3 or sometimes in Q4.
This will give bulls a chance to sell again at the W21ema price rallies back up.
The M100ema is at ~16500.
The M100sma is at ~12000
I will cover the M time frame after the M close.
Related publications
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.