Bitcoin Analysis and Trade IdeaBitcoin hit the Weekly demand and reacted bullishly from there. Looking for a retest of the bullish order block, then continuation of the bullish momentum.
Howtotradebitcoin
Be too Good, Good to Beat.Hello and Thank you for taking the time to view my channel.
I'm not a licensed professional so I hope that you do not misconstrue this information I'm providing your as Investment Advice.
It's not, I'm simply sharing my observations as an offering of education information. Let's jump into the Analysis.
There's currently a very bullish sentiment in the atmosphere and granted unfortunately there's a lot of misinformation presented in the Market. Misinformation caused by Bot Trading and bad technical indicators that mislead investors because they are being manipulated by those attempting to confiscate your Bitcoins. We're going to use the channel to cut through the unmistakable noise and get into the factual details of what we can validate from sources of information that can be trusted. By doing so, I hope to build a relationship of trust with this community to provide unparalleled precision.
My analysis consist of 3 Factors:
Factor 1: Time (Patterns)
Factor 2: Spatial Observation (Ranges)
Factor 3: Instinct: Pro-activity(Mindset) & Fear (Danger) (Fight, Flight, or Freeze)
We'll dig into the understanding of how these tools are used in this marketplace and how we can use them to profit as this channel continues evolve.
Today we're going to begin by simply observing time (Patterns) in our indicator, the B2G indicator which allows us to see patterns of behavior which are kindly color coordinated.
Within the oscillator, there are various technical indications going on, however for your educational purposes, we'll begin with only one of them. I've drawn a line to provide you a reference to observe. It's a RSI (w/ Inverse Fisher at 70%)" (With Scaling) The dotted line above (which may be red or green) represents the (Overbought) region. The RSI colors change depending on the condition of the price action (RED BOTTOMS) = Oversold (GREEN TOPS) = Overbought.
As you can see on the 15 minute, is now oversold. We will long this trade, there is also bullish divergence confirming this trade. The available range in the RSI shows a clear break of the descending wedge formed and a likely retest of the top of the range.
Target: $19485 - $19800
