BTCUSD 4/24/2021 : Day Trade Setup

24 เม.ย. 2021

Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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Last Trade, I just manage to breakeven to my longs and shorts position on Bitcoin and ALTs. I think, in the weeks to come, Bitcoin is changing trend from uptrend to down trend in the short term. Not yet confirm a bear market.

For this trade, It will last only from 8 Hours to 2 days (Maximum).

Next TA on Bitcoin is on Daily, Weekly and Monthly Timeframe.
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Technical Analysis

4HR
Currently, the price of Bitcoin is below the Moving Averages. Most likely a downtrend. But if you see on RSI, Stoch RSI & MACD - there is a hidden bullish divergence on this downtrend. Most likely, the price to bounce up and go down after. I think EMA 21 (Violet) will act as a strong resistance in this downtrend.
s3.tradingview.com/snapshots/q/q8E84hpV.png

1HR
As you see in the RSI, it struggles to hold above 50 level. Most likely, more downtrend to come.
s3.tradingview.com/snapshots/e/E4GVqpHm.png

15 minute
s3.tradingview.com/snapshots/j/jzLvZR5u.png

Trade Setup
Take note that the trend is on downside. Just making long position for a potential price bounced then downtrend after.
s3.tradingview.com/snapshots/g/Gjhj2Ins.png
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Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT