Bitcoin on 4H - how to trade ( to earn money and not lose it )
market price is in consolidation movement after last breakdown from end of September.
After confirming a double bottom we have seen a higher high on 4H which indicates in generell test of 9100 area but market price has fallen back within usual trading range very quickly which indicates many short sellers coming into the market at higher prices and this is a very bearish indicator.
On the other hand we are still bullish until market doesn't break the 8150 $ support but this will happen if the drawn pointed up trend line breaks down.
What I expect / my opinion: I will try to open a long at 8270 $ with tight stop loss under 8150 $ because market will go under 8000 $ if he breaks the 8150 $ as already mentioned above. Should market confirm the up trend line and not break under it we can expect test of 9100 $ as drawn in the chart.
-Bollinger bands getting very tight which indicates big incoming market movement
-MACD is near 0 line since hours which indicates big incoming market movement
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After confirming a double bottom we have seen a higher high on 4H which indicates in generell test of 9100 area but market price has fallen back within usual trading range very quickly which indicates many short sellers coming into the market at higher prices and this is a very bearish indicator.
On the other hand we are still bullish until market doesn't break the 8150 $ support but this will happen if the drawn pointed up trend line breaks down.
What I expect / my opinion: I will try to open a long at 8270 $ with tight stop loss under 8150 $ because market will go under 8000 $ if he breaks the 8150 $ as already mentioned above. Should market confirm the up trend line and not break under it we can expect test of 9100 $ as drawn in the chart.
-Bollinger bands getting very tight which indicates big incoming market movement
-MACD is near 0 line since hours which indicates big incoming market movement
Don´t forget to like and share - follow me to see free chart analysis which very high accuracy.
Send me PM for more information in relation to trading coaching and portfolio analysis.
Kommentera:
Market must close under the usual trading range for further down movement
Handel aktiv:
short trade active
Trade stängt: målet nått:
trailing stop reached after breakout from 8050 $ - 100 $ ROI
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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