Multi-timeframe Analysis Of BTCUSDT On Trading View

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Hello friends,

How are you all doing today, I feel happy to come before this great community today to share my analysis on btcusdt.

Today, we shall be carrying our analysis on btcusdt and we will begin our analysis on a higher time frame.

I often carry my analysis on the higher time frame, then I move gradually to a lower time frame.

From the screenshot above, I went on a monthly time frame, and I notice that the market was in an overall downtrend, although it is trying to recover from this bearish phase.

Then I proceeded to mark out my support and resistance levels in the market as seen below.

From the image above, it is seen that I have marked out my support and resistance levels, and on this levels, I expect reactions of the market.

Then I went on a lower timeframe to gain more understanding on the market movement so I can enter my trade effectively.

And from the above screenshot, it is seen that the market has broken it's resistance level.

At the current market condition, two things is expected, it is either the market retests the support level and continue a bullish move, or the breakout turns into a false breakout.

From my perspective, I am expecting a minor retracement to test the support level but we can't decide unless we move on a lower timeframe.

I then proceeded to mark out a key level on the market, and there is a high probability that the market.

The level marked above is another resistance level that the market is likely to bounce off from.

From the screenshot above, it is seen that the market has broken the resistance levels and it is about embarking on a retracement to retest this broken level.

Then I continued my bearish bias, since the overall market is bearish.

The image above is a clearer chart on btcusdt on the dialy, and then I proceeded to move to a lower time frame.

Then going on a lower time frame, we can see the chart more clearly and we can see that the chart is moving towards the already broken resistance level.

I then decided to add a technical indicator to the chart as a confluence to my analysis.

Adding stochastic indicator to my chart on a monthly timeframe, I noticed that the stochastic indicator is in an over sold region.

And an oversold region is a bearish trend reversal signal.

Then I decided to get confluence on a lower time frame.

Moving downward to the weekly time frame, I noticed that the market is in an oversold region, and this is a bearish trend reversal signal.

This implies that the market is about to make a bearish move toward the downside.

Then I went to a lower timeframe to search for my entry

Om the two hour timeframe, my indicator is still in an oversold region as seen above.

Then i searched for the nearest support to place my entry, and my stop-loss was placed above the support level.

And all of these can be seen in the screenshot above.

Conclusion

I have given my analysis on btcusdt on different time frame.

And all images were taken from trading view, except otherwise stated.

See you all again, starrchris cares ❤️