Updated
BTSBTC : 225-250 mid term target
Hi guys,
Im back but still busy, been working hard since with the army since the pandemic started. Anyway, I recently took position a our lvls.
I expect lateral movement for short term as the MACD is too deep in the negative spectrum, it negate the effect of bullish cross over (first white circle). We need time to recover MACD toward mid line. I expect the price to sit on this support and start lateral moves from our lvls, thats for short term.
Having said that, MACD 1W is in a perfect position for any bullish crossover. MACD 1W is near the centerline which offer a great scenario for a probable bull run since every bullish 1W MACD near a centerline is greatly amplify. I may add few years had passed since 1W MACD was in this position (near centerline).
What we need to watch is the contraction of the negative histogram (pink arrow in the MACD indicator). The things is, from this analysis, short term rise in price are not coherent with 1D MACD and 1W. The most probable scenario is a lateral price move induced by the support I highlighted. A rise in price to 225 sats (1D MA100) should confirm that trend and 500 sats (1W MA100) become more and more probable, alomst certain.
So my call is lateral price move, hold at support (no great gain or big loss) for next 2-3 weeks. A rise to 225 sats probable. 500 sats to be determined later.
Im back but still busy, been working hard since with the army since the pandemic started. Anyway, I recently took position a our lvls.
I expect lateral movement for short term as the MACD is too deep in the negative spectrum, it negate the effect of bullish cross over (first white circle). We need time to recover MACD toward mid line. I expect the price to sit on this support and start lateral moves from our lvls, thats for short term.
Having said that, MACD 1W is in a perfect position for any bullish crossover. MACD 1W is near the centerline which offer a great scenario for a probable bull run since every bullish 1W MACD near a centerline is greatly amplify. I may add few years had passed since 1W MACD was in this position (near centerline).
What we need to watch is the contraction of the negative histogram (pink arrow in the MACD indicator). The things is, from this analysis, short term rise in price are not coherent with 1D MACD and 1W. The most probable scenario is a lateral price move induced by the support I highlighted. A rise in price to 225 sats (1D MA100) should confirm that trend and 500 sats (1W MA100) become more and more probable, alomst certain.
So my call is lateral price move, hold at support (no great gain or big loss) for next 2-3 weeks. A rise to 225 sats probable. 500 sats to be determined later.
Trade active
First sign of my projection. As expected nothing happened since 3 weeks. MACD moving as expected. My trade is +25% profit as for today. Maintaining target. Looking +-100% profit at tarhet 225 sats.Trade closed manually
working on the new post, coming soon
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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.