Multi-timeframe Analysis Of BTCUSDT On Trading View

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Hello friends,

How are you all doing today, I hope you are all doing good.

Your favourite crypto-analyst @starrchris is here again and I am here to give my analysis on btcusdt of the cryptomarket.

Visiting my chart today again, I went to the monthly time frame to get an overall direction of the market trend.

From the chart above, it is seen that the market has not fully recovered from its bullish phase and the buyers are trying to push the market upwards.

Then I proceeded to identify key levels in the market, and i could spot one strong resistance and support level.

As seen above, I spotted a strong support and resistance level and this level has been respected severally.

And this analysis is being done on the monthly timeframe.

Then I proceeded to a lower time frame inorder to see more market activities, and to do this, I moved to the weekly time frame.

And on the weekly timeframe, I could confirm that the market price has attained a strong resistance level and is expected to be rejected at this level.

The concept of support and resistance remains that if the market hits a strong support/resistance, it is expected to be rejected.

Moving to the daily timeframe, u could see the market, well balance on the resistance level.

And when I looked carefully I could see a rejection candle on the market, and this implies that the market I being rejected.

Then I moved to a lower timeframe which is the 4hr time frame, and I can see lots of rejection candles, which is a sign that the market I about to retrace to the downside.

Then I decided to add my indicator to act as a confluence to my analysis.

Then I decided to add my indicator to the monthly chart inorder to analyze the signal in getting from it.

From the chart above, the stochastic indicator is in it's oversold region and this is a bearish trend reversal signal.

From the stochastic indicator, I expect the market to move in the downward direction.

Moving to a lower timeframe which is the weekly time frame, I added the stochastic indicator.

And from the stochastic indicator, the market is in an oversold region, and this is a bearish trend reversal signal.

This is acting on confluence to the signals I have been getting.

On the daily timeframe, the stochastic indicator is in it's oversold region which is a bearish trend reversal signal.

All these signals are in confluence and they are indicating a downward movement, then I finally moved to the 2hr time frame to search for entry.

Moving lower to the 2hr time frame, I noticed that the stochastic indicator is in the oversold region, then I decided to search for my entry on the 2hr timeframe.

Then I looked for a perfect spot to take my trade and I placed my stop-loss on the next support level.

Conclusion

I have given my analysis on btcusdt on different time frame begining from the higher time frame to the lower time frame.

All screenshot was taken from trading view and my post was made as an educational post not a financial advise.