BTC's movement for today is bull biased due to the following reasons
1. MACD at H4 crossed, signaling upside.
2. Strong upward pressure as seen in sudden pump.
However, I still do believe that the long run is still bear but we are focusing on day trading. I have a scenario in mind that after hitting the end of the range in upside, it will massively go down again. Again, do your own research.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Red and green arrows - possible directional movements
Keep it easy, keep it simple. Too much analysis is paralysis. Price movement can be a lot different from this post. Have a good risk reward ratio.
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.
1. MACD at H4 crossed, signaling upside.
2. Strong upward pressure as seen in sudden pump.
However, I still do believe that the long run is still bear but we are focusing on day trading. I have a scenario in mind that after hitting the end of the range in upside, it will massively go down again. Again, do your own research.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Red and green arrows - possible directional movements
Keep it easy, keep it simple. Too much analysis is paralysis. Price movement can be a lot different from this post. Have a good risk reward ratio.
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.