TREND:
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TLs 1: Broke below the UPC01012022
TLs 2: N/A
EMAs: Broke below 100EMA. Good enough distance with the 50EMA. This usually indicates as relief rally.
MACD: Created a LH with bearish cross. Still have not broken below the previous low. If we get a green week, this will be possibly a DB. A very strong reversal pattern
MACD DIVERGENCE: Bullish hidden...
TREND:
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TLs 1: BTC broke downward from the price channel UPC03042022. Failed to do a bearish retest and got a nice bounce from blue channel, closing it back inside the UPC03042022
TLs 2: N/A
EMAs: Pointing downwards, acting as dynamic resistance, opening around S, which usually indicates that it will eventually break the support
MACD: Still needs to create...
APE coin is forming a textbook cup and handle price pattern on 1h. Stoch and OBV have crossed bullish as well with MACD losing momentum of the downside.
I am also seeing a DB created around 50EMA
Entry: 16.3759
Stop: 15.85
There is nothing new on the 1D chart of BTC from yesterday. We are still waiting for a bounce to have bullish conformations. However, BTC on 4h has thrown a nice triple bottom around local support with several indicators indicating bullish crossovers. This favors the upside move more than the downward move.
If you want a detailed overview of what is happening...
Hi Guys!
I am planning to start a thread where I would share my analysis of BTC 1D TF with important price actions of LTFs like 1-4h. This is going to be the first post of the many more to come.
I consider the following items while making my trading decisions using several indicators:
Trend (Trendlines, EMAs, MACD)
Overbought/Oversold (RSI, Stoch)
Volume...
The price is currently round major weekly VA which has pushed price up many times in the past. Close to have a bullish cross and created a DB (Double Bottom). It also is showing initial signs of bullish diversion.
You can DVA between 42-45. Stop loss 41.5
