BitcoinLong
BITCOIN - 5 Bullish Price Action Criteria!!
Aggiornato
Hi followers and other TradingView users! As usual, to unlock this text You have to hit the LIKE button ;)
Currently, the BTC' price could make an important move upwards if the candle gets a close above the grey trendline - the triangle upper trendline.
FIVE Bullish signs from the chart:
1. Possible bullish "Inverted Head and Shoulders", the neckline is the well-known strong resistance area $6,460
2. Price has made short-term Higher high (HH) and higher low (HL). Higher low has formed on the same area as the right shoulder.
3. The right shoulder and the new higher low has formed exactly on the short-term trendline retest area. We had a breakout and now we have a retest!
4. We have multiple bullish candlesticks from different low levels, which will indicate that the buyers want to see higher prices and that's why those patterns have occurred.
5. On the 4H chart, we have 8 & 21 EMA golden cross which will indicate - IF we get a candle close above the grey trendline - that the momentum may continue.
So, those are the criteria which will guide us to the higher prices if You see a candle close above the grey trendline and above the $6,460 which is also the H&S neckline.
The first three criteria happen very rarely Together(!).
Considering bearish price action at USDT then it could be mean something because Tether takes a little hit at the moment. It needs to be stable and the volume has to come from pure buyers, not from USDT dropping!
Remember to trade cautiously because those are the short-term higher high and higher low, not the long-term! Long-term, the trend is bearish but that's why we make those TA's because of the good entry points and because of the signs!
The current momentum and some patterns change into neg. when the price drops below the $6,400. Inverted H&S becomes invalid, EMA cross becomes invalid and etc.
As always I try to keep You posted!
Hopefully, this breakdown helps You out a little bit to confirm Your own analysis!
Please, don't forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really really appreciate it!
Have a nice day!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Currently, the BTC' price could make an important move upwards if the candle gets a close above the grey trendline - the triangle upper trendline.
FIVE Bullish signs from the chart:
1. Possible bullish "Inverted Head and Shoulders", the neckline is the well-known strong resistance area $6,460
2. Price has made short-term Higher high (HH) and higher low (HL). Higher low has formed on the same area as the right shoulder.
3. The right shoulder and the new higher low has formed exactly on the short-term trendline retest area. We had a breakout and now we have a retest!
4. We have multiple bullish candlesticks from different low levels, which will indicate that the buyers want to see higher prices and that's why those patterns have occurred.
5. On the 4H chart, we have 8 & 21 EMA golden cross which will indicate - IF we get a candle close above the grey trendline - that the momentum may continue.
So, those are the criteria which will guide us to the higher prices if You see a candle close above the grey trendline and above the $6,460 which is also the H&S neckline.
The first three criteria happen very rarely Together(!).
Considering bearish price action at USDT then it could be mean something because Tether takes a little hit at the moment. It needs to be stable and the volume has to come from pure buyers, not from USDT dropping!
Remember to trade cautiously because those are the short-term higher high and higher low, not the long-term! Long-term, the trend is bearish but that's why we make those TA's because of the good entry points and because of the signs!
The current momentum and some patterns change into neg. when the price drops below the $6,400. Inverted H&S becomes invalid, EMA cross becomes invalid and etc.
As always I try to keep You posted!
Hopefully, this breakdown helps You out a little bit to confirm Your own analysis!
Please, don't forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really really appreciate it!
Have a nice day!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Nota
ALERT!! As planned, Finally, we have a break above the gray trendline and above the strong resistance $6,460. Altcoins are in the good shape, not the best but they are good.Now we have a great possibilty to go upwards, if You want to know another confirmations then those are the 4h candle close above the mentioned levels and a candle close above the $6,500.
Currently, volume and from technical perspective - everything looks great!!
Go BTC GOOGOOOO :)
Nota
If Yoy appreciate my work, do not hesitate to hit the LIKE button and leave a COMMENT with your thoughts!Thank You for your support!
Nota
1H has passed and we have a great confirmation - the price has made new short-term higher high (HH)!!Plus, we have two small confirmations - 2H candle close above the gray trendline and above the strong area $6,460 and 3H candle close above mentioned levels!
About negative - altcoins are a bit desperate! Launching, no not yet, launching...mmm...no not yet and etc.
Nota
Actually, I do not know much better trading setup than this! Yes, we wait a counter trend move but technically it is now even stronger than before. We have a breakout above mentioned levels (H&S etc.) + now we have a retest and bounce upwards! This is a textbook trade example, BUT this is Bitcoin, a coin without any significant volume inside the candles.So, we have a breakout, we have made new HH, we have retested the breakout area and now to get another confirmation we have to break above the round number $6,500!
Thank you for my supporters who have hits the like button!
Good night!
Nota
Hey! We got finally that breakout above the trendline on the 4H chart and we got a confirmation from candle close above it. The last 5 days highest 4H candle close, let's see what this can offer to us.Altcoins are in the better shape than yesterday - much more green on the screen.
In the 4H chart, we trade between the two major EMA's - EMA100 below the current price should act as a support and 200EMA above the current price should act as a resistance. So, to go higher we have to fight with the 200 EMA and with the strong area/round number area - $6,500.
We might see a trendline retest again on the 4h chart after confirmed breakout but let's see, definitely, we don't want to see that the price falls lower than $6,445!
Nota
From a technical perspective now is a good time to make another attempt to break the $6,500.Trendline retest, plus short-short term up-trendlines should act as support levels!
Nota
I'm out of the market!That what You get when You see too many same trading ideas on TardingView :D
"They" think differently ;)
Nota
Shortly I make new update ON COINBASE! F***this Tether ;)New price levels, completely new TA. Maybe there we can rise accuracy!
I keep You posted!
Nota
This post comes super educational for beginners and other TA. lovers, hopefully, something for everyone!! ;)Technical analysis step-by-step!
Stay tuned! :)
Nota
FOR FREENota
FREE TRADING EDUCATION here it is:
Hopefully, You enjoy it and thanking me by hitting the LIKE button!
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.