BTCUSA continue downtrend
Current Trend:
Downtrend: BTC/USD has been in a downtrend, indicated by the series of lower highs and lower lows.
Moving Averages: The price is below both the short-term (likely 20-day) and long-term (likely 50-day) moving averages, confirming bearish sentiment.
Key Support and Resistance Levels:
Resistance Levels: Around $65,000 and $70,000.
Support Levels: Immediate support around $55,000. If this level fails, the next significant support is around $50,000 and $38,500.
Indicators:
Volume Profile: The visible range of the volume profile indicates high trading activity around the $61,515 level, suggesting this is a key area of interest.
MACD: The MACD histogram appears to be showing increasing negative momentum, which is bearish.
RSI: The RSI is not visible on this chart, but it's essential to check if it's in the oversold territory (below 30) for potential bullish reversals.
Entry and Exit Points:
Entry:
Support Bounce: Look for a bounce from the $55,000 support level. Confirmation with a bullish candlestick pattern and increasing volume would be ideal.
Breakout Above Resistance: If the price manages to break above the $61,515 level with strong volume, this could be a good entry point for a short-term trade.
Exit:
Near Resistance Levels: Partial or full profit-taking at resistance levels around $65,000 and $70,000.
Trailing Stop Loss: Use a trailing stop loss to secure profits if the price moves favorably after entry.
Risk Management:
Stop Loss: Place a stop loss slightly below the support level, for instance, just below $55,000 to manage downside risk.
Position Sizing: Ensure proper position sizing based on your risk tolerance. Avoid over-leveraging.
Market Sentiment:
News and Events: Keep an eye on major news events or regulatory updates that can significantly impact the cryptocurrency market.
Suggestion:
Short-Term Traders: Consider entering a position if BTC/USD shows strong bullish reversal patterns at the $55,000 support level.
Long-Term Investors: May consider dollar-cost averaging (DCA) to build a position gradually, especially if the price moves towards lower support levels.
This analysis should be used as a guideline and not as financial advice. Always perform your own research and consider multiple factors before making trading decisions.
Downtrend: BTC/USD has been in a downtrend, indicated by the series of lower highs and lower lows.
Moving Averages: The price is below both the short-term (likely 20-day) and long-term (likely 50-day) moving averages, confirming bearish sentiment.
Key Support and Resistance Levels:
Resistance Levels: Around $65,000 and $70,000.
Support Levels: Immediate support around $55,000. If this level fails, the next significant support is around $50,000 and $38,500.
Indicators:
Volume Profile: The visible range of the volume profile indicates high trading activity around the $61,515 level, suggesting this is a key area of interest.
MACD: The MACD histogram appears to be showing increasing negative momentum, which is bearish.
RSI: The RSI is not visible on this chart, but it's essential to check if it's in the oversold territory (below 30) for potential bullish reversals.
Entry and Exit Points:
Entry:
Support Bounce: Look for a bounce from the $55,000 support level. Confirmation with a bullish candlestick pattern and increasing volume would be ideal.
Breakout Above Resistance: If the price manages to break above the $61,515 level with strong volume, this could be a good entry point for a short-term trade.
Exit:
Near Resistance Levels: Partial or full profit-taking at resistance levels around $65,000 and $70,000.
Trailing Stop Loss: Use a trailing stop loss to secure profits if the price moves favorably after entry.
Risk Management:
Stop Loss: Place a stop loss slightly below the support level, for instance, just below $55,000 to manage downside risk.
Position Sizing: Ensure proper position sizing based on your risk tolerance. Avoid over-leveraging.
Market Sentiment:
News and Events: Keep an eye on major news events or regulatory updates that can significantly impact the cryptocurrency market.
Suggestion:
Short-Term Traders: Consider entering a position if BTC/USD shows strong bullish reversal patterns at the $55,000 support level.
Long-Term Investors: May consider dollar-cost averaging (DCA) to build a position gradually, especially if the price moves towards lower support levels.
This analysis should be used as a guideline and not as financial advice. Always perform your own research and consider multiple factors before making trading decisions.
הערה
Warning. BtC entered to bearish zone. Are you ready for SHORTing it?
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.