BTC/USD - Trading Opportunities
Actualizado
What's up traders, time for a new week of trading. Let's make some profits!
Let's analyze BTC/USD on the 1D chart.
This analysis is a follow up analysis of my previous Bitcoin analysis (See related ideas below for details of my original analysis for more information), and I strongly recommend reading the previous analysis so you can better understand this one.
When previously analyzing the daily chart, I discovered a side-wards support/resistance line that is currently in control of trend which is at 8790 (At current levels), and on 11th May price actually failed a support on the line, and broke below it.
Today, there is what looks like a morning star signal setting up. so the question now is, is the morning star indicating momentum that could break us above the side-wards resistance and go back to the upside again? Or is the morning star signal indicating there will be some short term upside, simply retesting the new side-wards resistance once again before breaking down?
I believe it's the second option. I believe there will be a retest on the side-wards level at 8590 and it will go lower again, at least, for a little while.
I will update this analysis when I receive above 40 likes.
Let's analyze BTC/USD on the 1D chart.
This analysis is a follow up analysis of my previous Bitcoin analysis (See related ideas below for details of my original analysis for more information), and I strongly recommend reading the previous analysis so you can better understand this one.
When previously analyzing the daily chart, I discovered a side-wards support/resistance line that is currently in control of trend which is at 8790 (At current levels), and on 11th May price actually failed a support on the line, and broke below it.
Today, there is what looks like a morning star signal setting up. so the question now is, is the morning star indicating momentum that could break us above the side-wards resistance and go back to the upside again? Or is the morning star signal indicating there will be some short term upside, simply retesting the new side-wards resistance once again before breaking down?
I believe it's the second option. I believe there will be a retest on the side-wards level at 8590 and it will go lower again, at least, for a little while.
I will update this analysis when I receive above 40 likes.
Nota
This idea is going exactly as planned so far. It has perfectly hit the line and used it as resistance as predicted and is now coming down.Remember guys, I am simply trading what I SEE and not what I THINK. This is why I am so accurate with my trading ideas I post on TradingView.
I am glad to be you guys one stop shop for Cryptocurrency analysis!
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