BTC/USD - First analysis
Hello TF,
This is my first analysis or first time marking out a chart. I decided to post it as I'm interested to see how you guys would correct me.
Basically I am bullish on BTC, I'm not sure if it is a bearish pennant or if its a bullish flag or even a descending channel that will go bullish?
Should I be looking for these patterns on smaller time frames, and only looking for the trend on a 1day chart?
If I was looking for an entry and planned to do a short swing trade from point 4 - 5 and then open up a long once it breaks through the pennant above 5.
Would I be looking for an entry on the 4 HR chart to complete the short and then for the long entry?
If my analysis doesn't make sense, how would you make sense of it at this point in the market.
Please comment and thank you for taking the time to help me with my newbie analyse.
This is my first analysis or first time marking out a chart. I decided to post it as I'm interested to see how you guys would correct me.
Basically I am bullish on BTC, I'm not sure if it is a bearish pennant or if its a bullish flag or even a descending channel that will go bullish?
Should I be looking for these patterns on smaller time frames, and only looking for the trend on a 1day chart?
If I was looking for an entry and planned to do a short swing trade from point 4 - 5 and then open up a long once it breaks through the pennant above 5.
Would I be looking for an entry on the 4 HR chart to complete the short and then for the long entry?
If my analysis doesn't make sense, how would you make sense of it at this point in the market.
Please comment and thank you for taking the time to help me with my newbie analyse.
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