A few days ago, Bitcoin dropped almost 6% in minutes.
I published an article about Bitcoin critical Zones after the 6% drop.
So today I'm sharing another observation.
Lets have a deeper look at whats happening.
Link to chart: https://www.tradingview.com/x/XQ98brxB/
Overall Bias: Neutral/Bearish (Breakdown)
Critical zones have been marked on chart!
Points to note:
My take: If you are a long term HODLer, you may risk a small part by selling, to buy back later on.
Let's have a look at another 1D chart:
Link: https://www.tradingview.com/x/7yVsjIYe/
Overall Bias: Bearish
Critical zones have been marked on chart!
Points to note:
Lets look at the moving averages and Supertrends, on 1D.
Link: https://www.tradingview.com/x/5f1dvGnj/
Overall Bias: Not Bearish yet!
Critical zones have been marked on chart!
Points to note:
Checking these factors, I personally believe a big move will come soon (maybe in the next 2 weeks.
The trading range is narrowing, critical points are coming closer, which will signal a breakout soon.
If you want to take advantage of the upcoming volatility, you can take advantage of the volatility by buying move contracts (My recommendation: Risk only very small amounts) listed on FTX, especially before a breakout. ( I wouldnt recommend trading them if you dont understand how they work)
I will cover an article, later on how to trade on Move contracts later on.
I'm adding my custom referral link here in case you are interested (And of course if you know how move contracts work! (Disclaimer: I'm not related with FTX)
https://ftx.com/#a=beehivetrader
A little Teaser:
If price moves up/down and makes a violent move, the move contracts increase in value.
If price remains flat, and does not move, the move contract decrease in value.
Link: https://www.tradingview.com/x/GVkiWMqA/
Overall Bias: Neutral/Berish
Critical zones have been marked on chart!
Points to note:
My take: Stay safe! :D
gif taken from the internet.
If you like my content, please share and upvote; it will motivate me to improve and keep publishing quality content :)
Follow me on twitter: https://www.twitter.com/beehivetrader