Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
____
Update: All previous long positions closed. Waiting in the sidelines for a favorable entry.
It's a waiting game for me now.
____
Technical Analysis
From Daily to Weekly perspective the trend is bullish and aims more price appreciation but on 4HR and 1HR need more good confirmations.
Elliot Wave
Note: Need more confirmations on Daily, 4HR and 1HR.
WEEKLY
There is no convincing reason to be bearish in Weekly Timeframe. Last September 2020 to October 2020, the Price of Bitcoin is holding above EMA 21 (Violet). Right now, seldom to touched even to EMA 9 (Green) which means the buyer’s momentum is so strong. Good spot for buying (If your timeframe is weekly) is closer at EMA 9 (Green) and EMA 21 (Violet). So, more likely for price appreciation in the weeks to come.
Weekly Resistance: None
Weekly Support: $ 19,490.00
EMAs (9,21,34) is above weekly support (Formerly strong resistance last November 2020 & December 2020)
Bias: Extremely Bullish
DAILY
Maybe you argue that there is a bearish divergence on RSI, Stoch RSI and MACD but remember that price still above the Moving Averages which means bias still in favor for the bulls. In case of Short Position, Price must break below EMA 9 daily. Target Price in short position is at EMA 21 or Daily Support. I’m not doing that as the short position is against the uptrend. So, more likely to wait for good confirmations than this current trade setup in the chart.
4HR
Wait for proper confirmation before to enter a trade
1HR
No good trade setup.
_____
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
____
Update: All previous long positions closed. Waiting in the sidelines for a favorable entry.
It's a waiting game for me now.
____
Technical Analysis
From Daily to Weekly perspective the trend is bullish and aims more price appreciation but on 4HR and 1HR need more good confirmations.
Elliot Wave
Note: Need more confirmations on Daily, 4HR and 1HR.
WEEKLY
There is no convincing reason to be bearish in Weekly Timeframe. Last September 2020 to October 2020, the Price of Bitcoin is holding above EMA 21 (Violet). Right now, seldom to touched even to EMA 9 (Green) which means the buyer’s momentum is so strong. Good spot for buying (If your timeframe is weekly) is closer at EMA 9 (Green) and EMA 21 (Violet). So, more likely for price appreciation in the weeks to come.
Weekly Resistance: None
Weekly Support: $ 19,490.00
EMAs (9,21,34) is above weekly support (Formerly strong resistance last November 2020 & December 2020)
Bias: Extremely Bullish
DAILY
Maybe you argue that there is a bearish divergence on RSI, Stoch RSI and MACD but remember that price still above the Moving Averages which means bias still in favor for the bulls. In case of Short Position, Price must break below EMA 9 daily. Target Price in short position is at EMA 21 or Daily Support. I’m not doing that as the short position is against the uptrend. So, more likely to wait for good confirmations than this current trade setup in the chart.
4HR
Wait for proper confirmation before to enter a trade
1HR
No good trade setup.
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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