Revolutionize Your Bitcoin Trading: Top Price Action Techniques

2 days ago

BTCUSD Alexgoldhunter
Analysis Using Price Action Techniques
Key Technical Elements
Break of Structure (BOS):

The chart shows multiple BOS annotations, indicating significant changes in market structure. The first BOS is marked around the 16th, showing a bullish breakout. The second BOS is marked around the 18th, indicating a bearish breakout.

Fibonacci Retracement Levels:

The Fibonacci retracement levels are drawn from a recent high to a recent low. The key levels are:

0.786: 103910.11 USD

0.705: 103376.675 USD

0.618: 102795.43 USD

0.5: 102012.5 USD

0.382: 101229.97 USD

These levels can be used to identify potential support and resistance areas.

Volume Analysis:

The volume bars at the bottom of the chart show the trading volume. Higher volume bars indicate stronger buying or selling pressure.

Relative Strength Index (RSI):

The RSI is shown with a value of 44.80, indicating that the market is neither overbought nor oversold.

Moving Average Convergence Divergence (MACD):

The MACD indicator is shown at the bottom, with the MACD line crossing below the signal line, indicating bearish momentum.

Buy Strategy
Entry Point:

Consider entering a buy position near the 0.618 Fibonacci level (102795.43 USD), especially if the price shows signs of reversal with increasing volume.

Confirmation:

Look for a bullish BOS and RSI moving above 50.

Target:

Aim for the 0.786 Fibonacci level (103910.11 USD) or higher. Partial profits can be taken at intermediate levels (0.705 and 0.618).

Stop Loss:

Place a stop loss below the recent low or the 0.5 Fibonacci level to minimize risk.

Sell Strategy
Entry Point:

Consider entering a sell position near the 0.786 Fibonacci level (103910.11 USD), especially if the price shows signs of reversal with decreasing volume.

Confirmation:

Look for a bearish BOS and RSI moving below 50.

Target:

Aim for the 0.5 Fibonacci level (102012.5 USD) or lower. Partial profits can be taken at intermediate levels (0.618 and 0.382).

Stop Loss:

Place a stop loss above the recent high or the 0.786 Fibonacci level to minimize risk.

Summary
Buy Strategy: Look for a bullish BOS, high volume, RSI above 50, and enter near support levels (Fibonacci 0.618).

Sell Strategy: Look for a bearish BOS, high volume, RSI below 50, and enter near resistance levels (Fibonacci 0.786).

Simple VIP Signal
ENTRY: 102795.43 USD

TP1: 103376.675 USD

TP2: 103910.11 USD

SL: 102012.5 USD

By using these price action techniques, traders can develop a strategic approach to buying and selling based on key levels and market structure. Remember to always manage risk with appropriate stop loss and take profit levels. Happy trading! 📈📉
Follow Alexgoldhunter for more strategic ideas and minds

9 hours ago

Trade active

sell side trade active

9 hours ago

Trade closed: target reached

target hit close all trades