This idea will show you shortly the position of BTC on Monthly chart.
Let's start~
1. Short briefing
# Touch 20EMA on Monthly
# Going up after fall down around 0.886 Fib.
2. Monthly Chart
1) EMA & SMA
Candle has not been stayed under 20EMA(red) and 20SMA(red pot) since Nov. 2015
2) Now~
Touch 20EMA and then go up.
3) Summary and Scenario
a. Sum.
20EMA(about $6100) and 20SMA(about $5800) on Monthly are very importance level for BTC. Due to this, i expect it cannot be broken those levels. In this reason, these levels can help you to set stop-loss line.
b. Scenario
b.1 Rebound from 20EMA
b.2 Breakout 20EMA -> Supported 20SMA and then rebound
b.3 Breakout 20SMA -> in stagnation (in past, it took 1 year to stay over 20EMA, 20SMA)
Therefore, these levels have to be supported for BTC. if it break, Monthly candle can be 'Bearish Engulfing Candle'.
3. LTF analysis
1) Daily
all EMAs are in reverse order.
there's Hidden Bullish Divergence in RSI, CCI. if the price goes under $6079, bullish divergence will be gone.
2) 4H
0.786 Fib. becomes resistance line after breakout
4. Strategy and Summary
if you bought BTC from prz of Crab, keep your stop-loss.
if you are conservative trader, trade after buy signal(candle or pattern)
if it keep falling down, check the line of 20EMA, 20SMA on Monthly chart.
Trade with your standards.
If you think my idea is helpful for you, Click '+Thumb up, +Follow'
Also, if found something special, i will comment in real time.
Let's start~
1. Short briefing
# Touch 20EMA on Monthly
# Going up after fall down around 0.886 Fib.
2. Monthly Chart
1) EMA & SMA
Candle has not been stayed under 20EMA(red) and 20SMA(red pot) since Nov. 2015
2) Now~
Touch 20EMA and then go up.
3) Summary and Scenario
a. Sum.
20EMA(about $6100) and 20SMA(about $5800) on Monthly are very importance level for BTC. Due to this, i expect it cannot be broken those levels. In this reason, these levels can help you to set stop-loss line.
b. Scenario
b.1 Rebound from 20EMA
b.2 Breakout 20EMA -> Supported 20SMA and then rebound
b.3 Breakout 20SMA -> in stagnation (in past, it took 1 year to stay over 20EMA, 20SMA)
Therefore, these levels have to be supported for BTC. if it break, Monthly candle can be 'Bearish Engulfing Candle'.
3. LTF analysis
1) Daily
all EMAs are in reverse order.
there's Hidden Bullish Divergence in RSI, CCI. if the price goes under $6079, bullish divergence will be gone.
2) 4H
0.786 Fib. becomes resistance line after breakout
4. Strategy and Summary
if you bought BTC from prz of Crab, keep your stop-loss.
if you are conservative trader, trade after buy signal(candle or pattern)
if it keep falling down, check the line of 20EMA, 20SMA on Monthly chart.
Trade with your standards.
If you think my idea is helpful for you, Click '+Thumb up, +Follow'
Also, if found something special, i will comment in real time.
Note
Breakout of triangle on 30min chart. Check whether it is supported when it goes to retest of upper side of triangle.
Note
At the moment, it is pulling back from Fib. 0789 on BITFLYER.
Note
Focus on breakout of
Descending Trend LIne on 30M (Blue)
Descending Trend LIne on 4H (Pink)
Note
Failure on breakout of trend line.
At the moment, it makes Low level higher but slope of higher low level becomes quite gentle. Focus on lower low or higher low.
Note
Check support of trend line on 30M and breakout of trend line on 4H
This is the end of my idea and if you think this idea is good,
click +Agree, +Follow/b]
Thanks.
Note
For your reference
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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.