BTC downside projection, entry and exits with indicators.
BTC has broken it uptrend support which has signalled a lot of traders to exit.
This in turn has caused a leveraged long squeeze liquidaiton event which is why the candle wick is so long.
I'm not entering long on anything yet because BTC is in an obvious downtrend and you are catching a falling knife.
Previous history tells us a lot on this chart and many others, simply using the sloping support, sloping resistance as entry and exit measures is useful.
BTC will keep the down trend and I will look for entry after it reaches a floor and moves sideways/up. This is indicated by the downward red sloping resistance line. Break through that and it is time to enter. Careful for the false breakout. This could mean there is a gap to fill down to 40k.
You don't want to buy the bottom on the way down, it is gambling. You want to be patient and buy the lowest risk entry as possible, protecting your downside.
This in turn has caused a leveraged long squeeze liquidaiton event which is why the candle wick is so long.
I'm not entering long on anything yet because BTC is in an obvious downtrend and you are catching a falling knife.
Previous history tells us a lot on this chart and many others, simply using the sloping support, sloping resistance as entry and exit measures is useful.
BTC will keep the down trend and I will look for entry after it reaches a floor and moves sideways/up. This is indicated by the downward red sloping resistance line. Break through that and it is time to enter. Careful for the false breakout. This could mean there is a gap to fill down to 40k.
You don't want to buy the bottom on the way down, it is gambling. You want to be patient and buy the lowest risk entry as possible, protecting your downside.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.