Bitcoin analysis: target $30K

By Emad | honarparvar | 19 Feb 2022


I have posted this analysis on YouTube:
https://youtu.be/Wld72nKu-r4
but here is full details:

my strategy: divergence + composite
Multi timeframe, Daily, 4h and 1h

Bitcoin, D1
cc8cab3af36a9ff03716daa176701cdb5d443c4cac5fa12812dc2e5c4d47beac.png
confirmed bearish divergence in the chart, no bullish divergence is going to happen before a new deep forms. (with Feb 3rd's dip, which is 17 bars behind us)

Bitcoin, 4h
9830879690ded6bccabd4437fd0eea140d5361f3ad3848d945fdf6091017ed62.png
the divergence mentioned with the red flash and black lines caused the recent fall, and a new regular bearish divergence (blue lines) is happening (without confirmation yet)

for confirmation we go to:

Bitcoin, 1h
90b1715a8d6e37db84c2c885f4c9c479dc6a900aadf44e583a0fa1c9744f907e.png
there is a confirmed bearish div., the uptrend channel will break soon.

conclusion:
Short position,
entry point $40100
Stop loss: $41050
Take profit: $37900 - $35850

this is my trade, my thoughts! I'd be happy if you enjoy reading it or even taking your risk, responsibly, to trade it! and I hope we end up with the TP, but I'm not your financial advisor and I am not responsible for anyone's trades :) obvious things.

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Emad
Emad

youtuber, business developer and Crypto enthusiast


honarparvar
honarparvar

Writing is my addiction!

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