Bitcoin analysis: target $30K
I have posted this analysis on YouTube:
but here is full details:
my strategy: divergence + composite
Multi timeframe, Daily, 4h and 1h
Bitcoin, D1
confirmed bearish divergence in the chart, no bullish divergence is going to happen before a new deep forms. (with Feb 3rd's dip, which is 17 bars behind us)
Bitcoin, 4h
the divergence mentioned with the red flash and black lines caused the recent fall, and a new regular bearish divergence (blue lines) is happening (without confirmation yet)
for confirmation we go to:
Bitcoin, 1h
there is a confirmed bearish div., the uptrend channel will break soon.
conclusion:
Short position,
entry point $40100
Stop loss: $41050
Take profit: $37900 - $35850
this is my trade, my thoughts! I'd be happy if you enjoy reading it or even taking your risk, responsibly, to trade it! and I hope we end up with the TP, but I'm not your financial advisor and I am not responsible for anyone's trades :) obvious things.