Long term important BTCUSD levels (Weekly/Daily)
Hello traders,
Since many of us are confused where BTC will be heading, the truth is no one can tell that with surety at the moment. All I can say is that BTC is currently retracing, and i do not think it will go down past 8000 at the current moment. We still look bullish until we see some clear signs of downtrend.
I have some important support levels for y'all. I have a weekly chart on the left, and a daily chart on the right. Short time frame charts are helpful, but daily and weekly can show us strong resistances and support.
Weekly Chart:
As you can see we have bullish signs on the weekly chart. RSI is low and on the slightly rising side, along with MACD hinting of crossing the signal line in the upward direction. Also STOCHASTIC RSI showing us upwards movements.
Daily Chart:
Unlike weekly chart, we have the daily chart showing us some signs of a decline, but since weekly chart is bullish, this decline on the daily chart will probably not last for too long. RSI and Stochastic RSI are both pointing down on the daily chart, whereas MACD has not given us a confirmation yet.
I can see the chart hinting a bounce from one of the support levels sometime soon, if it goes down that level. But lets see how we play out, and keep track of BTC using this chart. I will be updating this idea as and when needed. Based on this movement, we can plan some of our trades in Alts.
Note: Both charts are different, so the levels may differ, but not by a lot.
Lets play smartly at the movement, and keep you money away from alts unless you are planning to go in for long term. We shall jump in as soon as we see BTC stable.
Happy Trading!
Since many of us are confused where BTC will be heading, the truth is no one can tell that with surety at the moment. All I can say is that BTC is currently retracing, and i do not think it will go down past 8000 at the current moment. We still look bullish until we see some clear signs of downtrend.
I have some important support levels for y'all. I have a weekly chart on the left, and a daily chart on the right. Short time frame charts are helpful, but daily and weekly can show us strong resistances and support.
Weekly Chart:
As you can see we have bullish signs on the weekly chart. RSI is low and on the slightly rising side, along with MACD hinting of crossing the signal line in the upward direction. Also STOCHASTIC RSI showing us upwards movements.
Daily Chart:
Unlike weekly chart, we have the daily chart showing us some signs of a decline, but since weekly chart is bullish, this decline on the daily chart will probably not last for too long. RSI and Stochastic RSI are both pointing down on the daily chart, whereas MACD has not given us a confirmation yet.
I can see the chart hinting a bounce from one of the support levels sometime soon, if it goes down that level. But lets see how we play out, and keep track of BTC using this chart. I will be updating this idea as and when needed. Based on this movement, we can plan some of our trades in Alts.
Note: Both charts are different, so the levels may differ, but not by a lot.
Lets play smartly at the movement, and keep you money away from alts unless you are planning to go in for long term. We shall jump in as soon as we see BTC stable.
Happy Trading!
DISCORD (Let's learn together):
discord.gg/t2RmTx7qCa
Note: This is a brand new community, so ignore the silence in there while we grow :)
discord.gg/t2RmTx7qCa
Note: This is a brand new community, so ignore the silence in there while we grow :)
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