Hello hivers,
Is been a long time i posted here i have been busy with some personal project which I'm 80% done at the moment. I am fully back with my technical analysis update on hive here.
I will be giving update on the forex and crypto market using my technical analysis knowledge we are going to explore the general market together with daily analysis both crypto and stock market.
Today i will be doing a break down of BTC/USDT chart 📉📈 as we all know that btc is mother of other token so is important to look at it from both end to figure out what to do before buying any other major coin.
BTCUSDT ANALYSIS
Here is the 4hr chart and we are finding it difficult to break above the 38031 price for some reason we are currently making that level a resistance level. We have double touches thereby creating liquidity for us, so we might go lower and come back to clear it because next psychological level is 39000 if we want to push the price higer.
BIAS
On the 1hr timeframe this is for day traders setup and bias i can see an immediate break of market structure downward giving us a sell setup which might trigger either it goes lower as planned or go clear the liquidity upward.
Though i think we might target the sell side liquidity before going for the buy side liquidity. For the sell side liquidity our target is 36196 level, and that is also our take profit price. So in anyway we have to see react to 37500 price level before we can boldly sell the off as our intraday setup.
DISCLAIMER
I AM NOT A FINANCIAL ADVISOR ALWAYS MAKE YOUR OWN ANALYSIS BEFORE TAKING MY SETUP OR TRADING ANY TOKEN,CURRENCY,STOCK I MENTIONED HERE. I'M NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS I AM HERE JUST AS CONTENT CREATOR TO GIVE UPDATE AND MY VIEWS ON THE MARKET OR PROJECT THAT I FELL LIKE IS GOOD.