From TradingView · · 30s
Bitcoin trade plan for BTCUSD
Trader shares Bitcoin strategy using chart patterns.
In brief
Trader shares Bitcoin strategy using chart patterns. Trader Joopooranski outlines two Bitcoin trading scenarios based on technical analysis. Originally reported by TradingView.
Market Structure
Trader Joopooranski describes a divergence (orange arrows) inside overbought area without reversal.
“a divergence (orange arrows) → inside of the over bought area (not a reversal)”
Long and Short Scenarios
First entry (green) and second entry (golden ratio) target white trendline for long positions.
“first entry (green) • second entry (my favorite - golden ratio), which is at the same target of the white trendline”
Short Position Strategy
Short BTC after price drops slightly, pumps to blue line, and gets rejected on daily timeframe.
“if price drops a little, then pumps to the blue line & gets rejected on the daily time frame, I’ll short BTC after confirmation”
The key point
Trader Joopooranski outlines two Bitcoin trading scenarios based on technical analysis.
