BTCUSD Retracement and Breakout
Hi, in my first publish I would share with you my short term analysis about 
BTCUSD.
Before starting I want apologize If you can't see any chart, the cause is that I am not a pro user so I'll try to specify each zone with their prices.
Let's start!
In the 4H chart we are in a downtrend since the 6th august 2019.
In this period the price touched more than 5 times a support zone that I found betwen 9524$ and 9080$.
My analysis predicts that the support zone will be broken but first the price will retrace to the nearest supply zone betwen 10270$ and 10136$.
My idea is supported by:
- the presence of the price in the RSI's oversold zone;
- a divergence between the price and the RSI (at 9321$ price made a new low while RSI made a new high respect at 15th august prices).
Based on this analysis I will take a long position when:
- the RSI will get out leave by the oversold zone;
- the price's candle will close out of the support zone.
For any question or suggestion, comment below.
Thanks for reading.
BTCUSD.Before starting I want apologize If you can't see any chart, the cause is that I am not a pro user so I'll try to specify each zone with their prices.
Let's start!
In the 4H chart we are in a downtrend since the 6th august 2019.
In this period the price touched more than 5 times a support zone that I found betwen 9524$ and 9080$.
My analysis predicts that the support zone will be broken but first the price will retrace to the nearest supply zone betwen 10270$ and 10136$.
My idea is supported by:
- the presence of the price in the RSI's oversold zone;
- a divergence between the price and the RSI (at 9321$ price made a new low while RSI made a new high respect at 15th august prices).
Based on this analysis I will take a long position when:
- the RSI will get out leave by the oversold zone;
- the price's candle will close out of the support zone.
For any question or suggestion, comment below.
Thanks for reading.
העסקה בוטלה באופן ידני
Update 3 days later:I closed my position manually at 9775$, just before the price reached the SMA(50) in the 4H chart [2nd September].
The price arrived to target [3nd September].
I took profit cause I thought that the price ended his retracement but the RSI was showing the sign of a strong up-trend.
Why did I close it?
- Fear to lose money cause I haven't stop loss? (I used the normal Coinbase app)
- Was I in a hurry to close the deal to take profit?
I think are these two, added to the incapacity to better analyze the situation cause I was traveling to get back home.
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.