BTC is squeezed between Weekly and Daily lines, but is holding!
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I saw lots of charts here on btc.. i saw some saying that we are since today in a new bull market.. well, we are not for me.. close to it, good signals, but not yet. You have to take a Log scale. Don't use classic scale for big picture, for an exponential growing coin like btc.. this is a 4H chart, with all the S/R and lines that traders and investors are using (they all have different TF). Like that you can follow price action on the big picture, and understand why and when people are adding a lot, or selling. When you are daytrading, use a classic chart, with the log chart in head. Choosing a TF is important..
Green: weekly S/R and resistances (to the body of the candle, and i draw the ones to the mech too, there are both on the chart, i often use the mech one as a confirmation to add), and classic trend lines, from the past before november.
We crossed the weekly diagonal (body candle one), this is very good for the bulls! But not the mech one.. Some investors are not all in back yet..
Red: Daily S/R ...... See! we didn't cross anything yet! So we are still at this time in a big bearish trend. (uptrend in a bearish trend). This is why daytraders shorted this level. There are two weekly lines above them, and a daily one. this is normal. Big resistances!
But, on the other side, lots of supports on 4H TF : MA 20 50, 100.. just under us, some are at a crossing point (bullish).. and some good daily support too..and the big green weekly down diagonal..i expect at least a rebound on this one, but who knows. There is a 4H support wich seems important for me in blue too if we are in a correction which go threw the weekly line .
And you have on the chart the arrows wich are paste from the last small retracements that we had during the uptrend. Watch if price goes under it. It is as i said for me the K level of the big picture with the green weekly line just under..
To resume, if it go threw the green line under us, wich is the weekly resistance line from the top (body of the candle way), you should be worry for the bullrun straight up until the moon..i will leave some baggs here, to buy back cheaper...
This is one of my first charts, so be cool! I still accept critics if they help! I hope you understand my english too! Have a good day
Green: weekly S/R and resistances (to the body of the candle, and i draw the ones to the mech too, there are both on the chart, i often use the mech one as a confirmation to add), and classic trend lines, from the past before november.
We crossed the weekly diagonal (body candle one), this is very good for the bulls! But not the mech one.. Some investors are not all in back yet..
Red: Daily S/R ...... See! we didn't cross anything yet! So we are still at this time in a big bearish trend. (uptrend in a bearish trend). This is why daytraders shorted this level. There are two weekly lines above them, and a daily one. this is normal. Big resistances!
But, on the other side, lots of supports on 4H TF : MA 20 50, 100.. just under us, some are at a crossing point (bullish).. and some good daily support too..and the big green weekly down diagonal..i expect at least a rebound on this one, but who knows. There is a 4H support wich seems important for me in blue too if we are in a correction which go threw the weekly line .
And you have on the chart the arrows wich are paste from the last small retracements that we had during the uptrend. Watch if price goes under it. It is as i said for me the K level of the big picture with the green weekly line just under..
To resume, if it go threw the green line under us, wich is the weekly resistance line from the top (body of the candle way), you should be worry for the bullrun straight up until the moon..i will leave some baggs here, to buy back cheaper...
This is one of my first charts, so be cool! I still accept critics if they help! I hope you understand my english too! Have a good day
Trade ist aktiv
I am going to make a trade.. we went threw the weekly resistance, but the EMA 100 and the bottom line of the uptrend channel are acting as support. I expect a rebound up the red daily first, and the weekly line. Here is the classic chart for daytrade with the EMA. Anmerkung
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a close under the second light blue under us would kick my stop lossAnmerkung
Price action on the log chart in 2H TF: 2 Pin bars, buying preasure precedes reversal above the weekly and daily lines. K point. Anmerkung
Breakout! go long if it is confirmed, or go now with stop loss.. Trade ist aktiv
Went out just above buy price.New trade:
- target 12200 area
- we have a 9750 support on a 4h chart, 5th candle above..
- and it is now above my blue support just above..during wrighting i saw that it is holding on 45 TF.. good
But! carefull, as you see , i want to see how the market react around 12200. There is 200EMA on 4H and a (too) obvious bearish HS, wich is almost symetric to the one that we had in the 6000 area (for fractal lovers).. Usually i don't trade it on this big timeframe, but i will watch..
Put a stop above 9750
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didn't hold.. i was going to enter in at the close, when a giant big wick kicked everyting.. hopefully i didn't get in to early, this one was made to kick stops.. lets see if the 9750 hold againAnmerkung
Well,it is looking good as expected..Anmerkung
target 1 reachedAnmerkung
if it hold, and climb on the Fibs, my targets will be the yellow boxes. The best we could do is 12700 area i think.. but it is far away. We have a new trendline that is forming (purple line under us)
If the situation change badly, i will go for a short under the 1.414 fibs (9350 area), because at this point bulls will be lost.
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I have the same trade on ethusd and dcrdbtc (very speculative on this one..)
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