Camarilla Pivot Points
BTC bitcoin. Help for hodlers moonboys & doomboysIts called a range. If you wanna trade a breakout move you have to wait it out or find a way to profit off a range.
These are camarilla pivots. your range is clearly show and your targets.
How to use this info? If you want to long or short a range reversal at H/L3 target the 3 on other side and beyond. stoploss at the H/L4 just above or below your entry on rejection or loss of the 3.
If you wanna play a range break with a confirmation. wait for H/L4 to be broke on preferably a 3hour or more unless volume is nice. target is H/L 5-6 with your stoploss at the H/L3 on the side you took your trade in.
Good luck. Nothing confirmed until this step first taken. Enjoy.
How to detect yearly trends / targetsIn ths post you can see the power of yearly Camarilla levels on monthly chart in conjuction wth 8 months ema.
In 2020 EURUSD failed to close below the yearly floor (S4)
It broke the yearly roof (R4) and ended at H5 (High5/R5) post breakout level.
Unfortunately tradingview does not plot yearly S5 and R5 - this needs to be fixed.
Btc may just sideways and dump with very little upsideso here is the thing. we are right at where our weekly pivot point it coming it. its possible btc plays out down or up before thie daily/weekly close then either way reverts back to that purple line. I think corretions is just some time away. if you wanted to long try to do it on developing camarilla L3 for daily or weekly around close. If you want short do the same for H3. I do not see a lot good risk reward selling at these current prices. I will say be patient. dont front run anything here. most alts even still hve lower to got to meet their new weekly pivots. and btc going either direction now (unless huge direction) will be only a waste of time.
Why I think 25k and 20k is not unrealistic for BTC / Bitcoin25k and 20.5k are the Untested Monthly and Yearly Pivots (purple lines). Which will have magnetic properties if not met with healthy correction. I will go into details on the other pivots
On the charts I have camarilla pivots. Which take previous time frame price action and projects the target range and breakout levels for the new time frame. L3-H3 is projected range. H4/L4 are stoploss/breakout levels. H5/L5 are breakout targets. The general strategy via intraday is to short H3 rejection or loss or Long L3 for other side of the range. Or play the breakout to 5 if the 4 is broken. These have daily / weekly / monthly / and on this chart I will show the yearly levels.
There is much talk of the big money buying and stuff. yet the top of the last year was projected by algos to the dollar on the Yearly H5... 365 days prior. during covid scare even. My point in mentioning this is that there seem to be some algo habits that correlate with a history of price action in the market even on these macro levels.
The purple line. Is the central pivot. It acts as a magnet until tested. and once it is tested it pushes price away like a magnet flipped. It is the buy the dip or sell the rip location. On the monthly levels you will find price action comes to the new monthly pivot nearly every month. And surprisingly the yearly Pivot the last 7 years (probably every year)
The way it looks now on the yearly levels would be an H3 to L3 range reversal to the Otherside (L3 and Pivot) AS LONG as the yearly H3 and H4 remain rejected. IF you are bullish. Be careful of price losing the monthly H3 at 32200. On the weekly levels, the current Pivot is being rejected so far around 36000(about the same as the monthly H4 breakout level). That is the next resistance. However, then would need to break the Yearly H3/4 to actually achieve new highs.
Based on the history of algos and price action reversion to the mean Pivot when it gets ahead of itself I would be hard-pressed to believe we do not test the monthly Pivot 25k (for the first time in a couple years) nor the yearly pivot (for the first time perhaps ever.