Market behaviour and Trading Strategy || BTC/USDT || Steem Alliance Community.

Hello Everyone,

Good night everyone, how are you. I hope you all guys will happy and good. By the grace of God, I am also good. Today I am here with new post in which I am going to talk about alt season. So, let's start.

Today i am here with technical analysis and try to find the market behaviour how it will works and how big whales are trying to do. I will discuss the key indicator that I used to make this decision by sharing screenshots.

Bollinger Bands

These indicator help to identify overbought and oversold condition. In the shared screenshot you can see that the price was touching the upper band indicating potential overbought conditions before retracement. As the price moved towards the lower band, it indicate the buying opportunity.

Moving Averages
I used the one day moving average to predict the market situation. In the screenshot, the price action show the potential crossover pattern.

RSI

RSI is my favourite indicator that measure the speed and change of price movements. An RSI below 30 indicates that the asset is oversold, while an RSI above 70 suggests it is overbought. As seen in the screenshots, the RSI was approaching the oversold territory which aligned with my decision to enter the trade.

Volume Analysis

Volume is crucial in confirming trends and reversals. During my analysis, I notice a significant volume spike as shown in the third screenshot. This spike in volume confirmed that there was strong interest in the price level I was watching and providing additional confidence in my trade entry.

From the many days, the price is trying to break the 61300 level again and again but failed every time. Guys you can see in the shared screen short. It test many time but can not hold the daily closing above the 62k level to enter in the bullish momentum. Finally in the last week, it break the 62k and close the daily candle stick above the 62k.

I have mentioned in the previous posts. If the market close the position above 62k then it will test the 65k and 67k. Now price is at 63k. I think it will retest the 62k level then bounce back at that position. Firstly it 62k is reacting as resistance level but now it will react as the support level.

By consistently applying these technical indicators, I hope to maximize the profitability of my trades in the BTC/USDT pair. I hope it will be an interesting topic for crypto and btc lovers. It would be my pleasure if you will share your opinion and reviews on this topic. Happy trading

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