Oversold $BTC check MTF momentum reversal for long #Bitcoin
Over and over again oversold conditions, coupled with high short interest are followed by a great opportunity for a long entry into BTC.
Multiple Time Frame Momentum Strategy suggests that one should look for the momentum reversal to take place on multiple timeframes before entry.
I like to see the following timeframes in alignment for BTCUSD. When oversold and at support it tends to move fast:
We are now looking at horizontal support at $2950, and 200 week MA around $3000 as well. There should be a significant bounce off these levels in the near term. This may transpire the next time the 4-hour Stochastic RSI indicates a momentum reversal after oversold levels are measured.
Metcalf's Law suggests that BTC should be at $10000 within 6 months.
Multiple Time Frame Momentum Strategy suggests that one should look for the momentum reversal to take place on multiple timeframes before entry.
I like to see the following timeframes in alignment for BTCUSD. When oversold and at support it tends to move fast:
- 30 minute
- 1 hour
- Take larger position once the 4 hour is also in alignment
We are now looking at horizontal support at $2950, and 200 week MA around $3000 as well. There should be a significant bounce off these levels in the near term. This may transpire the next time the 4-hour Stochastic RSI indicates a momentum reversal after oversold levels are measured.
Metcalf's Law suggests that BTC should be at $10000 within 6 months.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.