If you want my forecasts to be read, then first read the next section. If you are already familiar with my work, feel free to skip the section “How to read my analysis”
How to read my analysis.
Thanks to the tools of Thomas DeMark. Candles that give an understanding of the market mood of candles. Timeframes - monthly and weekly candle on a daily TF. A daily candle for 15 minutes, so that you can evaluate the dynamics of prices within the projection.
To do this, thanks to all the same differential arrows, the priority of one of the three scenarios is indicated - lateral/bearish. The highest priority scenario is bold arrows, the second-highest priority is thin arrows. An arrow designated as a direction vector defining the boundaries of the trading range.
In the analysis, I make an assessment of the past movement. Analysis of trends in the development of events and the transition to one of the scenarios to another.
If the priority is a side scenario (grey arrows), then it is not recommended to enter this day for intraday trading. If for scenarios or bearish, then for targets we suggest using opposite levels, support and resistance levels + trading candlestick limits. In order for the fixation level to be changed, it is necessary to focus on the key level.
Friends, I remind you that I am sharing with you for educational purposes. I do not guarantee profits. Only you make the final investment decision and all the risks associated with it.
Continuing intraday forecasts.
Yesterday, Bitcoin was on the side according to the priority forecast. Closing occurred at a close level of opening.
Trend by TF for today: Week - bear Day - bull 4 hours - bull
BTCUSD today, from the very opening, began with a bearish pullback. The differential arrows of Thomas DeMark look down. Still talking about the high potential for a bullish reversal. The most likely scenario today is bearish. Obviously, the price is above 9000 UAH. Correction for a bull run suggests itself (see. Red arrows)
The bullish scenario confirmation level is fixing above the green key level. The confirmation level of the bearish scenario is fixing below the red key level.
Estimated limits of the trading range for today: top trading range for today - 9000 USD lower trading range for today –8400 USD
The weekly scenario remains unchanged - sideways,
Key level: for bulls - 9100 for bears - 7950
The probability of an exit above 9100 within the current week is extremely small. Most likely, we will see a correction.
The global scenario for 2020 remains unchanged, but at the moment there is no room for maneuver in the 7800 area.
The nearest target for bears 7800 - 7400. The most likely goal for the end of the year is 13,000 USD.
Good luck and good profits! Regards, Mikhail @Hyipov
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If the idea is not liked or you do not agree. write about it too. What is your idea? What are your trading goals? Your opinion is interesting and important to me!
Haters, if you hate my content and cannot read it anymore, write about it!
I am grateful for any reaction and any comments, even a smiley or a plus sign!
I definitely note and plus all the comments of subscribers in my ideas, this is also taken into account in your reputation and a couple of points will fall for you ;)