BTC LONG SET UP & SHORT SET UP

27 thg 10, 2020

Bitcoin (BTC/USD) weakened early in today’s North American session as the pair depreciated to the 13072.79 level after trading as high as the 13250.00 area earlier in the North American session, and as low as the 12950.00 area in the European session. Stops were elected above the 13117.18 area during the Asian session, a level that represents the 38.2% retracement of the recent appreciating range from 12722.72 to 13361.00. Traders are observing that the intraday high was right around the 13250.02 area, representing the 76.4% retracement of the recent depreciating range from 13361.00 to 12890.76. Additional downside retracement levels in this range around the 12816.49 and 12805.44 areas. Buying pressure recently emerged around the 12865 area, just below the 12872.93 area that represents the 61.8% retracement of the recent appreciating range from 12670.67 to 13200. Another appreciating range that traders are monitoring is the ascent from 12698.02 to 13200.00. A couple of additional appreciating ranges that chartists are watching include the climb from 11201 to 13250.04, and the run-up from 11416.04 to 13250.04. The 12766.47 and 12817.22 areas are significant potential areas of short-term technical support related to those appreciating ranges. Above current price activity, traders are closely watching the 13488.49 and 13884.29 levels.

Following the pair’s recent ascent, traders are paying close attention to potential areas of technical support during pullbacks and these include the 12925.89, 12817.22, 12766.47, 12611.92, 12549.45, 12514.94, 12438.90, 12060.18, 11937.09, 11692.63, and 11531.52 areas. Stops were recently elected above many additional upside price objectives including the 11120, 11179.90, 11272.86, 11378.11, 11409.40, 11489.10, 11857.25, 11915.92, and 12023.45 levels. Another important technical level includes the 11510.44 area, representing the 50% retracement of a historical depreciation from 19891.99 to 3128.89, as well as the 10200.39, 10139.11, and 10082.97 areas. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 12516.12 and the 50-bar MA (Hourly) at 13083.45.
Technical Support is expected around 12055.03/ 11933.02/ 11811.01 with Stops expected below.
Technical Resistance is expected around 13361.00/ 13488.49/ 13868.44 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

LONG SET UP
Title/(Date): BTC/USD LONG
Asset:CRYPTO
Order Type:BUY LIMIT
Time Frame:1D
Entry Price 1: $11,886 (PENDING)
Entry Price 2: $11,680(Pending)
Stop Loss: $11,386 (500 Pips)
Take Profit 1: $12,386 (500 Pips)
Take Profit 2: $12,886 (1,000 Pips)
Take Profit 3: $13,386 (1,500 Pips)
Take Profit 4: $13,886 (2000 Pips)
Status: 🚨PENDING🚨

SHORT SET UP
Short Set Up
SELL BTC
ENTRY 1 $13,222
ENTRY 2 $13,386
SL $13,586
TP.1 $12,886
TP.2 $12,486
TP.3 $11,986