In brief, thanks to the pump last night, things are looking kinda positive again after more than 3 weeks of the red sea in the crypto space
There are indeed signals on multiple independent indicators including , OBV, , ( formation), Candle stick patterns
BTC is having a series of higher high and higher low in 15m, 30m and 2h chart which is a pretty good signal as more price action towards the buy than the sell
The potential formation of a thanks to the pump and the series of higher high and higher low as above on 15m chart.
is looking beautifully on 15m and 30m chart
A reversal of 8, 13, 21 and 55 in which 55EMA is at the bottom. Why 8, 13, 21 and 55? Because this will align with Fibonacci analysis which increases the accurate rate of TA
What requires not to be a bull trap
BTC needs another consolidation or strong upward price action (The green ) on the to reach 7800.
needs to be bouncing against the support upward to discourage the bears.
- Stronger OBV on the 15m and 30m chart.
RISK TO CONSIDER
- Some of the confirmation signals and observation in this TA are based on short time frame (10m to 45m) as subject to find early signal and take price advantages. However, shorter timeframe also comes with higher level. Therefore, things can be upside down. This highly depends on individual risk preference in taking trades
- Market manipulation as we all can see in May. This has been happening at an increasing rate. Therefore fake signals still can be a possible case in this pump.
How to mitigate risks
- Swing trade can set a loose tolerate stop loss or set ladder price below 7000
- Day trade needs to be tight with risk tolerance and set stop loss closer to the entry price.
Hope this helps, give me a thumbs up and follow me for more update
I am not a financial adviser, as always, trading is a probability game. Taking risk and reward into consideration according to your own personal risk preference.