ARE WE GOING TO THE MOON?

17 mar 2022

BTCUSD
BTCPERP

I will leave some studies here that leave clues to a possible inflection of movement in bitcoin.

Remembering that this study is considering the confluence of multiple indicators used in technical analysis.

Follows studies and description for each analysis, with the price dynamics of a weekly chart:

🔷RSI PIVOT ABOVE AVERAGE + POSSIBLE PURCHASE 9.1

RSRI made an upward zig-zag after a long time, I see this as a very bullish thing, it is worth remembering that if the indicator closes above the moving average it will be even more bullish.
We also have the possible setup on the weekly chart of a 9.1 buy, we have to wait for the week to close, but if a close occurs close to the current prices and still maintains the direction of the moving average of 9 pointed up, it is a classic buy SetUp.

🔷 MACD

Reduction in selling pressure observed by the histogram, and averages close to a crossover
Convergence between the histogram and the price.

🔷Stochastic

Zigzag on Stochastic after bottom marked on 01/24/22 signal in support zone with bar pattern = Hammer or PFR
Possible entry of arrears.

🔷 MONTHLY VWAP + POC support

Strong buyer defense zone at VWAP MONTHLY + Important price zone at POC

🔷 EMA 8, 80

EMA 80 in Flat support
EMA 8 Point to the Start of the bullish move

🔷Joe DiNapoli

Joe DiNapoli is known for his pivot of reversal, we have the possibility to observe the model in the weekly, if this bar closes positive and its maximum is broken the target will be 1.618% projecting in an alternate way.

These studies are completely linked to the closing of the weekly bar, so the price movement can invalidate this reading, but if there is a positive movement we have several SetUps described above that can help you take a position.

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I hope to be able to contribute to the reading of friends and if you have any suggestions leave them below in the comments, we are here to always learn. I am not the owner of the truth, this is just content based on my rationale.

🔴Disclamer: The comments above reflect solely my opinion, this is not a buy or sell recommendation. Just a series of published studies, so that together with the community we can discuss tactics and operational techniques.