BTC (Y19.P2.E11).Looking for a Short entry
Using a number of sources, it seems the area marked (btw 8000 to 8300) can potentially be a good entry point for a $700 gain.
Reasons:
> Previous resistance and then support range
> Buying Volume average (strong support) in May-June was $8000
> Buying volume average in late Sept to mid October was $8300
> Psychological number, $8000
> Fib Fan support line
> Bottom support base trend line
> Fib, Circle acting as resistance could potentially be broken here
> Seems to be equating bottom of RSI and stochastic indicators on the daily chart
> Confluence with weekly 50 EMA range
Also fits into the Macro going long formation as per this post
Weekly chart
Reasons:
> Previous resistance and then support range
> Buying Volume average (strong support) in May-June was $8000
> Buying volume average in late Sept to mid October was $8300
> Psychological number, $8000
> Fib Fan support line
> Bottom support base trend line
> Fib, Circle acting as resistance could potentially be broken here
> Seems to be equating bottom of RSI and stochastic indicators on the daily chart
> Confluence with weekly 50 EMA range
Also fits into the Macro going long formation as per this post
Weekly chart
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Using fib circle, we can observe the real wedge pattern. Still within the formation
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Still patiently waiting
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Referring to the RSI, Stochastic, its not low enough which I thought would equate to this region. Hence I'm looking towards a slightly lower price. 7570-7770
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
I would like to see a open and close candle above the daily 50 MA.