Bitcoin (BTC/USD): Evening Analysis, Nice Try BTC...

BTC Evening Analysis .png
BTC Update .png

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Daily

Looking at our trend timeframe we see price has temporarily found support. Stochastic RSI showing momentum has bottomed out. When is the mayhem going to stop….never haha this is crypto! Drop seems to have been caused by Upbit ( South Korea’s most popular exchange being search by police.) A daily close above $8,700 activates our trade.

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4Hour

Shifting over to our pattern timeframe we see price has returned to it’s breakout zone from April 17th, to test for support. Stochastic RSI showing momentum is bullish. A 4hour close above $8,600 activates our trade.

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Hourly

Finally taking a look at our trigger timeframe we see price has double bottomed @ $8,250. An our close above $8,500 activate trade 1, followed by a 2nd trade with a close above $8,650 on the hourly. Stochastic RSI showing momentum is bullish.

Link To Chart

Conclusion

  • Buy: 4hour close above $8,650
  • Sell: NO NO NO

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Crypto Trading W/ Leverage
How to Draw Trend-lines & Identify Trends
How to Draw Support/Resistance, Price Only

Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.

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Thank you for the information I didnt know that the drop was caused by South Koreas top exhange being searched by police. Great work.

Thank you for your support and time :)

Your welcome, I followed you also.

Followed you as well, looking forward to growing with you :)

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