BitcoinLong
Bitcoin - Waiting to buy
Zaktualizowano
Bitcoin keeps retesting 91k area and forming a clear support line. There is a strong anticipation for the price to break above 100k and starts a parabolic leg up for the Bitcoin bull cycle. In am very careful in a situation like this to open a long position because there are a log of traps.
Yesterday's daily candle held 91k support line but now the price is coming down again. Usually the clear support line like this doesn't hold that neatly. I have a feeling the price will have another quick dip below it before going up.
My general bias for Bitcoin is bullish but I think there are a lot of bull traps along the way. It is a perfect condition for market makers to make money by liquidating leverage positions. It is exhausting mentally to open a long position and go through the volatile price moves. So I rather take a conservative position and wait for the right set up to come up in the weekly and daily charts as below:
1) weekly stochastic (9,3,3) lines to cross and start to roll back up. Weekly stochastic gives me a good idea about how the price in the daily chart will travel.
2) draw a descending trendline in MACD and RSI in the daily chart and wait for the lines to cross (must cross!!) and break and close above the descending trendline. Ideally, MAC lines enter the bull zone (above0) and the first green histogram appears.
There are many IFs, but based on my past experiences, when these conditions are met, it removes a lot of market noises (removes mental anguish) and the price moves smoothly in the direction of my bias.
Yesterday's daily candle held 91k support line but now the price is coming down again. Usually the clear support line like this doesn't hold that neatly. I have a feeling the price will have another quick dip below it before going up.
My general bias for Bitcoin is bullish but I think there are a lot of bull traps along the way. It is a perfect condition for market makers to make money by liquidating leverage positions. It is exhausting mentally to open a long position and go through the volatile price moves. So I rather take a conservative position and wait for the right set up to come up in the weekly and daily charts as below:
1) weekly stochastic (9,3,3) lines to cross and start to roll back up. Weekly stochastic gives me a good idea about how the price in the daily chart will travel.
2) draw a descending trendline in MACD and RSI in the daily chart and wait for the lines to cross (must cross!!) and break and close above the descending trendline. Ideally, MAC lines enter the bull zone (above0) and the first green histogram appears.
There are many IFs, but based on my past experiences, when these conditions are met, it removes a lot of market noises (removes mental anguish) and the price moves smoothly in the direction of my bias.
Zlecenie aktywne
Weekly stochastic is still pointing down. All daily momentum indicators are in the bear zone and under the descending trendline. I will patiently wait for the momentum indicators to enter the bull territory to buy Bitcoin. 
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.