Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
A quick Scalp Opportunity for today
On 5 minute chart we are in a sideways channel. Breaking it on either side could cause a lot of movement. So here is a great opportunity for short term traders. If btc breaks below 8200 we are getting a death crossover and also MACD Crossover and we are then going down towards 8050-8100. So you can short somewhere around 8195 and target towards 8100. It can be a good profit with some leverage on. Instead if BTC tries to move upwards in such scenario the 50MA would give a curvature upwards then buy above 8250 and target 8360 and 8400. The Stop loss should be on the other edge of this sideways channel. If you shorting SL would be 8250 and if longing SL would be 8200.
On 5 minute chart we are in a sideways channel. Breaking it on either side could cause a lot of movement. So here is a great opportunity for short term traders. If btc breaks below 8200 we are getting a death crossover and also MACD Crossover and we are then going down towards 8050-8100. So you can short somewhere around 8195 and target towards 8100. It can be a good profit with some leverage on. Instead if BTC tries to move upwards in such scenario the 50MA would give a curvature upwards then buy above 8250 and target 8360 and 8400. The Stop loss should be on the other edge of this sideways channel. If you shorting SL would be 8250 and if longing SL would be 8200.
FYI, most people in WO are not interested in 5 minute charts. Daily and weekly charts only.
Ask JayJuanGee for more infos.