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Btc - uptrend channelGood night traders, Btc is trading on an upside channel on our H4 timeframe (left) and after the strong dump yesterday it has respected once more the bottom of the channal. On our weekly tf (right) we have 3 dojis in a row showing strong indecision right now. The idea here is to take advantage for the price when its on the bottom and top of the channel until we have a clear breakout with reasonable volume. The only thing concerning me so far is the low buying pressure after the yesterdays dump but since the price respected the uptrend i guess we might see some improvement next week, i dont look at weekend volumes since they are tricky and low. Interesting levels: First support level = 5140 USD Second support level = 4800 USD First resistance level = 5450 USD Have a good weekend everyone! This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
BITFINEX:BTCUSD
by MarcelMartins
1
BITCOIN - Overview and opportunitiesGood evening traders, overview on BTC. H4: The coin is on short term uptrend as we can see on left chart, we have an already confirmed uptrend (3 touches) e therefore we can search for buy oportunities if the price go there again, wait for rejection and then buy. : Im using LOG CHART and then we can see there is a downtrend confirmed by 3 touches and now we broke it upside, now the price is re-testing it again and so far rejecting it, good bull signal. Daily: We had a clear bull trap above 200 sma that for sure killed some bears stop losses and triggered some early bulls into the market, now this moving average is our current resistance level for aim 6000~6400 level. So now, whats the plan? For selling: Wait another test and rejection on the daily 200 SMA. Buying: Wait anothe test and rejection on our H4 uptrend. Interesting levels to watch: 1th support level: 4800 usd Current resistance: 5370 usd (200 sma daily) Potential upside target: 6000 and 6400 usd. (Medium term) Enjoy it? Leave a like! This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
BITFINEX:BTCUSD
by MarcelMartins
6
Bitcoin - H4 outlookGood week everyone, H4 outlook for btc. As we can see btc is one more time approaching resistance level (orange) and it'll try to break it again. Bullish confluences: - Low volume on selling waves (check indicator), looks like there is no interest selling right now - Thats candle spikes (like the balloon demarcated one) are definetly killing some bulls stop losses, whales are eating them and this is bullish behaviour. - Ascending trendline already confirmed, touched more than 2 times. Bearish confluences: - Small rsi bearish divergence, no big deal IMO - We are closing WEEKLY resistance (check related idea) Strategy: either wait another touch on trendline and scalp aiming resistance or wait for a good breakout with reasonable volume (not huge, just above average) above resistance and aim previous resistances at 4600-4800 zone. This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
BITFINEX:BTCUSD
by MarcelMartins