BTCUSDT - correcrtion
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the long position paid off.
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Btcusdtbuy
BTCUSD - CULMINATIONI expect 17500 in order to put together a trading plan for the medium term.
This is not the culmination yet.
I recommend trading strictly from long positions.
today recommended to buy:
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These ideas are not a channel with signals and I do not give recommendations on the entry/exit points.
In my reviews, I provide analytics - those data that help model potential options/scenarios for price movements
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BTC/USDT breaking all odds, (THE QUITE BEFORE THE STORM MOVE)BTC/USDT is on the verge of performing a MAGIC, but will it favor your position?
This is the BREAK OUT against all odds and here is a good explanation for this.
"THE QUITE BEFORE THE STORM”
Where do we go from here?
So many traders believe the market direction can be DISCLOSE by FLOOR PIVOT levels, they see and buy these pivot levels to exist at 1st or 2nd resistance or support levels. WHY? because Prices around pivot levels signal rough or trend market modes or potential reversals.
NOTE;
A convergence of pivots increases the chance of potential support/resistance compare to a single pivot level p.
BULLISH SIGNALS
when prices open and consolidate around(much preferably above) the PIVOT LEVELS P, prices tend to pick the prior trend direction and trade HIGHER.
BEARISH SIGNALS
When prices opened and trade below the pivot level P, suggesting a potential range expansion/volatility and a possible trend reversal.
Looking at the above chart on the hourly, you will see three spot with a red circle named PIVOT POINTS, these are the examples I will be using to explain the current market position and how this current Pivot level P will affect BTC/USDT and how it has been affecting it since beginning of 2020( other times exist during this timeframe but I will be focusing this discussion on this three spots.
1st PIVOT POINT EXPLAINED
The early hours of the 5th Jan 20, BTC/USDT opened above the previous day low. After the first hours, prices continued to trade slightly above the Pivot level P but below the 1st resistance R1.
BTC/USDT traded above the previous day high of $7574 and pivot at 7241 to suggest a potential bullish trend and low-risk trading opportunity .
2nd PIVOT POINT EXPLAINED
On the 02nd March 20, BTC/USDT opened below the low of the previous day. the market traded in a narrow range below the PIVOT LEVEL P, the following day opened near the previous day’s high but could not hold unto this high price, but maintained it's position above the key support level S1. the market rallied up to $8938 on the 4th March while pivot level remains at $8977( a big bearish signal).
On the 5th march 20, the continued to open below the Pivot point but later rallied to $9156 before close. on the 6th march the price continued to trade above the Pivot this price could not hold for long above the Pivot level P, on the 07th march BTC/USDT broke through the key support level S1 at $7964.
3rd PIVOT POINT EXPLAINED
Like I stated earlier, a confluence of pivots increases the chance of a strong support/resistance.
On the 13 march 20, BTC/USDT opened above the previous day close
The chart above shows floor pivot from BTC/USDT 1hr chart. On March 13 of 2020,a setup presented itself, BTC/USDT opened above the previous day close, 6687, just slightly above the key support S1 at 6609. this lead to a rally to 6959 to close at 6947. the next day pickup but could not hold on to the high price, after the first hours, prices traded back to the Key support S1.
On the 16th March 20 however price picked up really fast, rolling up to $7192 above the PIVOT level at $7034.
This is where THINGS starts getting interesting, A trade setup was presented when BTC/USDT traded above the hourly high but below the 1st resistance R1, but this is where it gets a lil tricky,
On the 17th March 202, price traded below the previous day high at $7192 BUT STILL hold the pivot level. at $7034. the early hours of 18th March 2020 is where we are currently at and so far, BTC/USDT still hold above the pivot level P suggesting a potential bullish trend.
In my previous analysis, I stated why bulls should not short btc/usdt and that price will hit $10k, when price was still at $6709
this trade is still in play, we are currently at the first bear zone.
HINTS on my personal trading setuP trade;
1.Enter a ‘’ long’’trade 5cents above $7189
Place a “stop’ loss at the previous high at ($7147)
Place a “TA” at the 2nd resistance R3 (at $7777 or at most $8k to avoid any bull trap)
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BTCUSDT- are you expecting a price increase?Good day to all crypto fans!
What is happening now with the price of MTC, let's analyze?
The BTC price corrected from a low of its fall to a maximum of 84.31% according to the Binance exchange. Not reaching the 7135 level quite a bit, at the maximum, the BTC price was 6957. A strong resistance level since 2018. Marked on the chart. The next level is 7934. The level of standard BTC correction, according to historical data or 0.618 Fibonacci, coincides with the peak of the wedge in which the price moves. Most likely the price from the rising wedge goes down.
And the question is whether the price will reach this level before the correction?
Binance exchange limit orders do not expect prices above the level of 7135, and Bitfinex limit orders exceed 7934.
As you can see on the chart, the price moves in a downward channel, in the upper part it goes down from a locally upward channel. Upon exiting the wedge, the price will be adjusted to the level of 5840 or the average channel border is indicated on the chart. The so-called "refueling", which does not cancel the further movement to the level of 7934, or the upper boundary of the downward channel.
A divergence formed, marked on the chart. But nothing prevents making a triple divergence, which will be even stronger than the current one.
Most likely, the price will reach the level of 7934.
While there is a beautiful rebound - the correction from the fall of the stock market I see nothing impossible in that, without volumes, to reach BTC even higher. And there everyone will expect the closing of the huge gap and the development of the “Cup with Handle” pattern, and then, the price, together with the stock market, will fly down. But this is likely to be in April. Before the very poor reporting that everyone will expect.
A scenario with possible growth should be considered only with the surf and consolidation above the level of 7135.
Thanks to all my subscribers and readers for your attention!🙏
Success and profit!🤑
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Disclaimer!
I do not give entry and exit points.
I share with you my opinion and ideas, which may differ from yours.
BTCUSDT-the picture is local. We are knocking on the trend line!Good day to all crypto fans!
Previous idea at work! Attach below!
What is happening now and what to expect from the market?
The BTC price made an impulse down, thereby approaching the level and the lower border of the channel, after which it rebounded in a corrective movement. The trend line marked on the chart restrains from further growth.
The price can still adjust to the level of 6318. With the subsequent downward movement. Levels are shown on the chart.
Thanks to all my subscribers and readers for your attention!🙏
Success and profit!🤑
Do not leave without a like, and if you like my analytics sign up and you definitely will not miss anything!
Disclaimer!
I do not give entry and exit points.
I share with you my opinion and ideas, which may differ from yours.
If you want to learn how to understand the market, make money without nerves, write me in a personal!
For all legal issues related to your investment portfolio: manipulation of the exchange, which led to the loss of funds, a delay in depositing or withdrawing funds from the exchange, the theft of your funds from your wallet or from the exchange, signing of an agreement with a trader, etc. write in PM. Protect yourself and your investment portfolio.
Bitcoin behind the scenes! The long awaited breakout? TEST?!Been digging in the chart and found two trends from Gann box that are way too much interesting, they're shaping like a falling wedge, and now looks the price is going back again to test the trend it broke and boom we get the next rally!
Keep an eye on the chart!
Currently the trend is near the 7700-7800 support!