USING GANN To Trade BITCOIN:
Grey GANN:
The resistance at 1/1 led to the subsequent dump in March, albeit that was caused by Coronavirus fears; so that can be regarded as an anomaly, however, Bitcoin has made a strong recovery since then thus leading to it breaking that resistance and as long as we stay above the 1/1 area we are still BULLISH.
Break ABOVE 2/1 could lead to high volatility and strong upside potential and possibly ATHs for Bitcoin.
However, recent candles show a potential drop below 1/1, cross below 2/1 would be a 2ND BEARISH confirmation giving us potential lows similar to those of March, which would set up for a subsequent bull run if it is fundamentally sound.
Green GANN:
As before, as long as we stay above 1/1 we can claim long term BULLISH territory with this perspective looking far more positive than the Grey Gann.
However, the potential for the downside is there with retraces to the 1/2 area being textbook which would provide buying zones in the area 6700-7600.
Please FOLLOW AND LIKE if you like the IDEA, I will be posting regular updates for it.
Keep an eye out for momentum changes and bullish divergences on the Volume and RSI
BTCUSD
BTCUSDTBTCUSD$BITBAY:BTCUSDXBTUSDXBTUSD
Grey GANN:
The resistance at 1/1 led to the subsequent dump in March, albeit that was caused by Coronavirus fears; so that can be regarded as an anomaly, however, Bitcoin has made a strong recovery since then thus leading to it breaking that resistance and as long as we stay above the 1/1 area we are still BULLISH.
Break ABOVE 2/1 could lead to high volatility and strong upside potential and possibly ATHs for Bitcoin.
However, recent candles show a potential drop below 1/1, cross below 2/1 would be a 2ND BEARISH confirmation giving us potential lows similar to those of March, which would set up for a subsequent bull run if it is fundamentally sound.
Green GANN:
As before, as long as we stay above 1/1 we can claim long term BULLISH territory with this perspective looking far more positive than the Grey Gann.
However, the potential for the downside is there with retraces to the 1/2 area being textbook which would provide buying zones in the area 6700-7600.
Please FOLLOW AND LIKE if you like the IDEA, I will be posting regular updates for it.
Keep an eye out for momentum changes and bullish divergences on the Volume and RSI
BTCUSDBTCUSDTBTCUSD$BITBAY:BTCUSDXBTUSDXBTUSD
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.