BTC looks good on these Time Frame...
Hello October 2021! The crypto market have been recovering from the September bloodbath and there are some altcoins went to All-Time High too (AXS, LUNA, OMG).
Today, let look at BTC on 4 hour chart, daily chart and weekly charts. I found the similarity on these are Bullish at the time of writing this post. You know how the crypto market work right?😜
- Breakout of Symmetrical Triangle
- Hidden bearish divergence (played out)
- Hidden bullish divergence (played out)
- Inside the symmetrical triangle, formed a descending channel
- Breakout of descending channel
- Rectangle pattern (accumulation, consolidation)
- Breakout of rectangle pattern
- Symmetrical Triangle (will it breakout or will it breakdown?)
- Above the yellow line = Trending Up
- Potential forming a bull flag
On BTC daily, not so much pattern that obvious to me.
- 79 days range (the rectangle pattern)
- Breakout of the descending channel
- Potential bullish engulfing candle (Cannot confirm yet since the candle hasn't close yet)
- Above the yellow line = Trending Up
- The candle did wick down touching the 79 days range upper rectangle for few times however it bounce back showing that the demand have been absorbed
Weekly chart, I don't see any obvious pattern to me there it is a clean chart.
- Potential of Bullish engulfing candle (need to wait for the candle close to get the confirmation)
Have a good weekend and cheers!!
On a fine afternoon talking to ladyyunajay about trading view functions.. A simple idea pop up!!
Me: Why not we start paper trading at trading view (100K capital, fake money) record it down in a google sheet and share to the world? We can do this as trading exercise and have fun at the same time!
https://docs.google.com/spreadsheets/d/1aogT9AGMsisUbN1ZrfAV0DWeKGy8WWy9uSZ5y3_DT9o/edit#gid=0
Trading is risky and using Leverage to trade is an even higher risk than Spot trade therefore I will suggest you to try out paper trading first before going into Live Trade.
This is just MY PERSONAL OPINION/BIAS/VIEW on the BTCUSDT. 1000% NOT FINANCIAL ADVICE & Please Do Your Own Research/Due Diligence. During this pandemic I had started picking up Technical Analysis, therefore am still learning my way around it. :)
Posted Using LeoFinance Beta