If you love the spot-on analysis done so far, please boost, share, comment, and follow for more.
Analysis:
Before we start, note that BTC is still very well bearish. On the 3 min charts, BTCUSDT 3 candle confirmation occurred at around $17,800 This implies a current oversold condition for BTCUSDT. This is a temporary pull-up. This is also why the lower end of the fib range is used as a target for the exit. 2-candle confirmation on the 5 minutes chart above the yellow moving average and a 1-3-candle confirmation above the lower white dotted fib line on the 3 min chart were also confirmed.
The projected entry zone is anywhere between $17,700and $17,800. Based on this analysis, we should expect around 1.7% to 4% upward movement for BTC from this point.
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
Analysis:
Before we start, note that BTC is still very well bearish. On the 3 min charts, BTCUSDT 3 candle confirmation occurred at around $17,800 This implies a current oversold condition for BTCUSDT. This is a temporary pull-up. This is also why the lower end of the fib range is used as a target for the exit. 2-candle confirmation on the 5 minutes chart above the yellow moving average and a 1-3-candle confirmation above the lower white dotted fib line on the 3 min chart were also confirmed.
The projected entry zone is anywhere between $17,700and $17,800. Based on this analysis, we should expect around 1.7% to 4% upward movement for BTC from this point.
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.