Bitcoin Trading Strategy

6 thg 1, 2020

I am one of the Top Authors in Korea.

To share my opinion for all, here I publish in English.
Check my opinions in the past in Korean, then you can see bigger picture.

BTC SHORT Reasons : You should not take risk to trade at the moment. You better wait and see the price movement for the future in order to enter positions.
 



1. Resistance in trend channel in Hourly chart

2. Overbought section in 1-Hour and 4-Hour chart in terms of RSI

3. Bearish Divergence in 4-Hour frame



4. Top of the Bollinger band in 6-hour and higher frame & Daily frame

5. MA resistance in Daily frame

6. Resistance level in both parallel price level and trend

7. Neckline Resistance level



(It is better to LONG after satisfying the Neckline, but, compared to the section around $3,300, you should consider SHORT if the price does not break the resistance level.)
Based on the Major Support Level ($6,300 – 6,400), it is recommended to see the price fluctuation within a Box and Falling Wedge pattern.
 
As published in the telegram, I have been seeing SHORT since the BTC price at $11,000 and higher.  Now, it is time to carefully change my view to LONG.
 
In bigger picture, it is likely to see the price correction to test lower support level.
Even if the price shows strong bounce, we should wait for the pullback.
 

Thanks for reading my analysis and it is no-trade-zone for me to take risk.


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