BTC Breakout:Top-Down Analysis & Multiple Harmonic Confirmations
Cập nhật
The idea here is about BTC:
BTC & other Crypto markets have been under long winter since November 2021 and with all the things going round us. One can only expect prices dipping down.
If we look on the technical side of the asset I assume, that we have seen the bottom on the price action & correction or we may dip further in prices as on long term the momentum has not yet shifted to completely bullish.
However, the technical aspects are giving a multiple confirmations of trend reversal which has been explained in detail as below (weekly Time frame):
1. Bullish Cypher pattern completed on a weekly chart & potential trend reversal expected. Long Entry, Stop Loss, Targets are explained detail in the below chart:
https://www.tradingview.com/x/Dp6KVVvG/
2. What is Cypher Pattern? Explained in the below image:
https://www.tradingview.com/x/4VlrzD7T
3. Sea Pony (Advanced Harmonic pattern) completed on a weekly chart & potential trend reversal expected. Target and pattern explained in detail as per below chart:
https://www.tradingview.com/x/Cawc6axB/
4. What is Sea Pony Pattern? Explained in the below image:
https://www.tradingview.com/x/NnQMKaTW
5. Current trend from 8th November 2021 till date has formed a falling wedge pattern with Lower Lows (LL), Lower High (LH). The price is very close for breaking out of the trend as explained in the below chart:
https://www.tradingview.com/x/aEFNhtn9/
6. Trading way below 50 & 200 EMA on Weekly chart & Support established on 50 EMA on a daily chart which is a good signal.
7. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a Monthly is strong buy, Weekly chart is Strong bearish & daily chart is neutral at the time of publishing.
8. RSI is at 43.91 on a Monthly chart, 38.11 on a weekly chart & 60.06 on a daily chart at the time of publishing.
9. MACD below signal line on monthly chart, and above signal line on weekly & Daily chart.
10. Hull Moving average on a Monthly, Weekly is strong buy & daily is sell at the time of publishing.
11. Long Entry wait for Breakout of falling wedge. However, keep in watch list for the week & alert for price momentum.
12. Projected targets (Multiple confirmations): provided in the chart.
13. Stop Loss (Multiple confirmations): Provided in chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis. Do leave your valuable feedback & comments for any improvisations.
Cheers.
BTC & other Crypto markets have been under long winter since November 2021 and with all the things going round us. One can only expect prices dipping down.
If we look on the technical side of the asset I assume, that we have seen the bottom on the price action & correction or we may dip further in prices as on long term the momentum has not yet shifted to completely bullish.
However, the technical aspects are giving a multiple confirmations of trend reversal which has been explained in detail as below (weekly Time frame):
1. Bullish Cypher pattern completed on a weekly chart & potential trend reversal expected. Long Entry, Stop Loss, Targets are explained detail in the below chart:
https://www.tradingview.com/x/Dp6KVVvG/
2. What is Cypher Pattern? Explained in the below image:
https://www.tradingview.com/x/4VlrzD7T
3. Sea Pony (Advanced Harmonic pattern) completed on a weekly chart & potential trend reversal expected. Target and pattern explained in detail as per below chart:
https://www.tradingview.com/x/Cawc6axB/
4. What is Sea Pony Pattern? Explained in the below image:
https://www.tradingview.com/x/NnQMKaTW
5. Current trend from 8th November 2021 till date has formed a falling wedge pattern with Lower Lows (LL), Lower High (LH). The price is very close for breaking out of the trend as explained in the below chart:
https://www.tradingview.com/x/aEFNhtn9/
6. Trading way below 50 & 200 EMA on Weekly chart & Support established on 50 EMA on a daily chart which is a good signal.
7. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a Monthly is strong buy, Weekly chart is Strong bearish & daily chart is neutral at the time of publishing.
8. RSI is at 43.91 on a Monthly chart, 38.11 on a weekly chart & 60.06 on a daily chart at the time of publishing.
9. MACD below signal line on monthly chart, and above signal line on weekly & Daily chart.
10. Hull Moving average on a Monthly, Weekly is strong buy & daily is sell at the time of publishing.
11. Long Entry wait for Breakout of falling wedge. However, keep in watch list for the week & alert for price momentum.
12. Projected targets (Multiple confirmations): provided in the chart.
13. Stop Loss (Multiple confirmations): Provided in chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis. Do leave your valuable feedback & comments for any improvisations.
Cheers.
Ghi chú
Very Close for breakout. let's see how this pans out.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.