Hi traders, Today, I want to analyze Bitcoin at Daily timeframe, maybe it can be useful for our Road map ๐บ๏ธ๐ง.
Bitcoin Analyze ( BTCUSDT ) Timeframe Daily โฐ
Bitcoin is playing on Descending Triangle from 27 Jan 2021 until now (about 184 days๐ ), we won and lost money on this Triangle (I hope that you WON lots of money๐ต). I was able to find 3 points(A & B & C) of our Descending Triangle and now we have to try to find others (D & E). our Descending Triangle has 2 important lines (A & B). important line (B) is our downtrend and important line (A) made the lower line of our Triangle . When the price has reached these lines, it has moved to DOWN or UP.
Live: Now price is near important line (B) & TRZ (Time Reversal Zone) & Point D of Bearish AB = CD Harmonic Pattern, So I am expecting that the price starts to react again on this zone, and decrease until the important line (A) (Point D of Descending Triangle), then the price will go UP again it makes Point E for us. Point E will be a Critical Point because the price can move UP or Down from Point E.
Resistance Zone: 42450$ until 40822$ (Monthly Resistance 1+ Fib Cluster)
MACD: We have Hidden Divergence(HD-) between Price and MACD until now.๐
RSI: RSI is seeing Heavy Resistances in front of itself + RSI is on overbought too.๐
Stoch RSI: Stoch RSI is on Heavy Resistance.๐
My Suggestion: if you find Triggers for opening Short Positions, you can open them & if the price can break(Trusty) our Important line (B), we can buy Coins for Midterm and Long-term investment (Over 43399$ will be a good zone).
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends, Thanks, and Trade safe
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