Fib and Pivot

2022-06-02 10:48:02 The yellow line is the weekly pivot point. Price is staying above it for the moment. a fall below it should take price to the weekly support at 26k (the green line). Price staying above the weekly pivot should mean that we may see 31k, 32k again or above. Open / Comment

2022-04-26 10:35:30 Good Morning Traders

Updates on BTCUSD

We are now trading above the weekly pivot point, and it looks like price may trade above it. The chart above is quite explanatory. Ultimately price may be heading for 42k 43k if price trades above the pivot.

Wishing us a profitable trading today. Open / Comment

2022-04-25 20:30:05 BTCUSD

There seems to be an expanding triangle forming with price testing the top of the expanding line.

50 periods LRI is also holding price down at the same level.
The weekly pivot point is at 40331. This will be a good level to place a stop for better risk to reward.

Trade setup:

Short BTC: 39450
Stoploss: 40500
Take profits: 38800, 38200 and 37800

R:R: 1:3 Open / Comment

2022-04-25 09:37:58 BTCUSD

The bears won this week with price starting the week below the weekly pivot point.

Indicators are bearish.
It also looks like there is an expanding triangle forming, with the last leg forming to complete at around $37000
This week's pivot point is at $40321.

If the bears can hold price below the pivot point, 37680 and $35930 are the profit taking points to look for, for the week.

A move and a daily close above $40321 would mean that there still a touch of the bulls in the market. $42060 and $44700 would then be profit taking levels to watch out for.

I wish us all a profitable trading this week. Open / Comment

2022-04-23 11:41:08 BTCUSD

BTC price seem to have found a temporary base at 39k. The bulls may make another attempt for 41k. Will they succeed? It all depends on whether 39k holds. Open / Comment

2022-04-22 14:28:55 BTCUSD

Late hour yesterday price breached 41k, the weekly pivot point, and quickly went for 39.8k, wiping out all of yesterdays gains.

On the 4hr chart above, price is currently sitting on the 61% fib retracement (the middle red line) of the move from 38k to 43k. How price and technical indicators behave at this level will determine how today's trade should be taken. Open / Comment

2022-04-21 07:41:16 41k is this week's pivot point. The bulls are defending it with all their might. This is a level to pay attention to for the week. Price staying above this area puts around 43 to 44k on the card for Bitcoin traders.

Trade safely! Open / Comment

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2022-04-19 12:34:18 This is the 4hr chart for BTC. The weekly pivot point is at 41k (the red line) and it appear as if the bears are holding price down pretty well at this level.
This is a level to watch closely.
I believe that if we have a 4hr close above this level, price can move to any digits.
If bears hold price below the level 39k (the green line) is again a possibility. Open / Comment

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