#BTCUSD You know? You're being Fooled!

15 апр. 2020 г.

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Before you start risking your capital read this:

Just 27 days left for the HALVING. This month will be crazy for sure.
Miners want to stack FIAT for the new machines, BCH Halving had a negative effect on it's pricing too so what do we expect in Bitcoin?
Let's make it simple all we can do is speculate, we don't really know what could happen but one thing is sure the big miners are trying their best to kick out small miners. Also this price action is not natural, I have observed a lot of spoofy sell orders to take your bags. This is an indication that we're bullish in the mid and long term.
Halving is considered to be the most historical events for BTC and In my humble Opinion you must stick to your BTC rather than risking it. Although If you want to trade in short term, here's the chart for you:


Currently we are trading sideways, with resistance being 85D EMA and 5OD MA acting as a support.
I consider current area as a NO TRADE ZONE, We trade on breakouts:
Break below the dotted line: $6768 I'll consider opening short position with Targets: $6456 and $6204.
Break above the resistance trendline and $7200 I'll open long positions with target around $7600.

IN A NUTSHELL,
Resistance Levels: $6904, $7200, $7640
Support Levels: $6768, $6456, $6204
Although this is a reliable setup,
Do your own research before trading this setup.

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#Peace

16 апр. 2020 г.

Заметка

As you can see we broke to the downside, expecting a little bounce from either $6456 or $6200 area. $6200 and $5800 remains the strongest support levels.