!! BTC Strategy 3rd October !!
BTC strategy
As we announced in this morning's State of Mind, BTC is currently evolving around its support at $6460. The technical indicators in horizon 1h are bearish except the WaveTrends.
There are 2 possibilities of evolution, either the Bitcoin preserves its support and bounces back, it would then move towards its resistance at $6550. The other scenario, bearish this one, involves a break in the support and a return to $6345.
Given the technical situation, we believe that the downside scenario is the most likely. However, we give the two strategies by reminding you this: A breakage strategy must always be confirmed by a candle of at least 15 min, which opens and closes above the given level.
If the candle is too big, too bad, you will take the next train because it would then be too risky to position yourself at that time, other opportunities will follow.
Summary of the strategy:
Buy: close to $6460 if the support holds (short-term technical situation to be monitored)
T1 : $6500
T2 : $6540
Stop: $6420
Short : < $6460 if confirmed breakage of the support
T1 : $6400
T2 : $6350
Stop: $6485
Be careful!
As we announced in this morning's State of Mind, BTC is currently evolving around its support at $6460. The technical indicators in horizon 1h are bearish except the WaveTrends.
There are 2 possibilities of evolution, either the Bitcoin preserves its support and bounces back, it would then move towards its resistance at $6550. The other scenario, bearish this one, involves a break in the support and a return to $6345.
Given the technical situation, we believe that the downside scenario is the most likely. However, we give the two strategies by reminding you this: A breakage strategy must always be confirmed by a candle of at least 15 min, which opens and closes above the given level.
If the candle is too big, too bad, you will take the next train because it would then be too risky to position yourself at that time, other opportunities will follow.
Summary of the strategy:
Buy: close to $6460 if the support holds (short-term technical situation to be monitored)
T1 : $6500
T2 : $6540
Stop: $6420
Short : < $6460 if confirmed breakage of the support
T1 : $6400
T2 : $6350
Stop: $6485
Be careful!
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.
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.