Crypto Trading #13 – Technical Analysis of Bitcoin

JB Trader: Hello everyone, this is JB Trader and welcome to Crypto Trading. Today I wanna work through on trading view with Bitcoin.

And can I give you free random of the history of price movement and how to keep price points that you should look up for? Keep a mind that I’m not a financial advisor, planner. I’m simply a trader and I just wanna show you what I’m looking at on the price charts.

Alright, here we have a trading view in Bitcoin/Dollar, I’m on a weekly chart, so I have a lot of candles. And here is price states and range for a while. The high is at about 1200 and close about 150, a kind of higher than range from $200 or $300 for a while. And I feel that the price is great. Most people did it, most people got it after the breakout.

Alright, do you know this here, how we had this area. I’ll go back right here. I’m gonna put in a line, we put a horizontal line here. On areas of resistance. I’ll be back in January of last year and came into areas of support and down to 750 and then rally back up if people want to bring for back down again or break out. So the break out traders would roll in.

I wonder ask what I’m gonna do if the price continues to go higher. May I gonna buy and I buy the breakout. Normally, which you wanna do is look for a full-back. You wanna look for something that’s on sale, something that prices got cheaper.

So, on this breakout, I would be looking to get back, get around this area, around 1083.90. You pick a buy anywhere in there after that breakout. And I take candles by candles to watch your price movements, you can read your chart and know week to week spaces, how prices behave and how to trade it.

People bought this break out gone higher, people got to fall. The price gonna drop and getting in long. I did a buy now and get in or it’s gonna leave without. You see this tail on the way down. I hope you see it, I’m sorry for at the end I just kinda do it candles by candles.

So, in fact, price did come down at $1000 USD’s area and it bounced to right back up. So you have an order here to go long. That’s good.

Another week, we give another chance. Two weeks, to get in right here. Did you do it? Will you pay attention? Will you sell it off? Thinking that it had broken the high in just little breakout and the price gonna falls back the first position.

It gonna a bit lower on the way down here. To that 18.90, are you scared? You will buy more? Get you the third week, third weeks to get in. And the price is going up, and we back up again and we broke out.

See this candle, now we have a higher high, still broke out from these high. If you did get in here, you had three weeks to blow up the position here at $1000 USD.

Now I broke out and made higher and higher, so I gonna put the line here. I don’t want the whole with a horizontal line, I gonna use the trend line. I don’t want my chart to look like a guitar. I will put a little line right here. So these high are broken.

And I gonna put a trend line to follow the trend. So start down here, some people will say that oh you cut off the tail. Well, in currency, we just unregulated, it’s not like future in starts that it’s regulated. So people with different exchanges look at different prices.

So with Forex even or Cryptocurrency, same things, you can do this trend line to cut the switch off, I mean the tail off or switch the downtrend. And you still gotta put these accurate trend line.

You see why the higher is not even touched the trend line anymore. So, I would call this my primary trend line, my first trend line. Now I’m gonna put another one. One-touch on it comes from the trend line, it’s getting striper. So, let’s see, see another movie plays out.

You gonna buy the breakout or you chase it or you gonna wait for the price to come back to an area of support and we can blow it up again for a discount. So in this situation, see this whenever you have like a breakout area, it’s the pretty high ability that price will come back to re-justice. So I would be looking to be a buyer around here.

Still going, look at that. I have another trend line, a super stip point. Look at that, the angel, how just keeping striper and striper. Alright, that’s a good trend line, that’s a good strong trend line.

What would you have something go on straight up? That would be called parabolic, move a quite unstainable and you don’t know how long it’s gonna last. But, be prepared and don’t be surprised when it doesn’t.

Let’s see what gonna do in the next week. It went higher. Look at that, it came up almost 2800 and just short right back down.

The trend line is still holding. On the early next week, it makes a higher high and we didn’t make a lower low inside the week. We’ll get a super striper trend line here.

It did not. It couldn’t do it. It couldn’t break that 3000 came up to the 3000’s area again. It like runs to the 2130’s area. Let’s see how they bounce stops that trend line. You wanna keep the trend line up. There’s a lot of traders but she knows weekly frame, they trade-off from that.

Ok, now in the area of support, 2130 area, it like gonna make a higher high, it gonna break the loss of support. What would you gonna do?

Hey, just one sideways, it thinks we gonna do about something. Think about doing something. Still thinking. Find a seller who still does break out right there. Find it out. Still finding.

Look at that, this trend line is no longer railed, it completely violated. But this one, look at this, that’s why we should keep the trend lines up. You gonna feel the trend get stronger to the up or the downside. Like my trend line, my primary, my secondary, my tertiary, no one know for that word, it just means third, my third trend line. I don’t know the word for it. I have to look it up.

But, look at that, right there, 1864 area. I gonna do, this trend line is gonna hold. Did you expect the smooth, we’ll land and break the trend line to set out your position or some of your positions? We’ll come back to retest the area to buy more. Like cover lane, it’ll go up, down on one sideway and if then all the time.

On this, hold back and trade, we’ll be prepared to buy more. That’s a question you always have to ask yourself. Don’t be scared of everything.

This an area to stay strong, to stay focus to buy low. And this bounces the price off for the range next week and came right back up.

I’m gonna remove this trend line here and we’re gonna break the high and let’s think about this. Thinking about breaking the high. And I did.

Okay, the high was broken. We’re gonna raise points to continue the trend. It’s gonna completely valid the trend.

This continues its uptrend here and I broke the downtrend line. And we’re going to the moon. Okay, high broken, break out traders rule in. you’re all over this place. This buys and buys.

Breakout buyers, I would like to drop this high come back to just 2800 area, that would be ideal. Okay, drift here and lose backup, and this is a break-up point. Keep that in mind, your area of support and area of the breakout.

Broke the high again, thinking, and the side is going up. So, continue this trend line on. Delete that, you’re gonna change you up to work, update works. And these lines are no longer valid.

Ok, look at that, I gonna have another stip one. It’s gonna stip one here people. Keep up for 2900 area, fellow way lower for a week and it broke the trend line.

Look at that, Did it ever break the trend line? Another reason, watch trend line is important. When you break the trend line, a signal for the trader to access their positions.

What is the surprise if I let the price keep falling to the retest area. No. Done the surprise for the price coming back here. This an area of support, 2800 areas. It came down to 2981, a breakup point.

In this situation, thinking about it, that’s an inside week, did it make a higher high or lower low? Rally up. There’s a quickly bounce stop that. May it gonna change?

This still breaks and it tail right here. Let see the trend is continuing and there you go. Break out. Alright, we get a little bit of trend line. It still high and it broken, break out traders go on lounge right here, it 2250 area.

Now the trend line is actually changed. At this, breakout, what would I like to see? after this breakout, Bitcoin’s getting expensive. I would like to see the fall back surroundings in the 4400 area. I’ll be ideal even 4000 surprised me.

Come back to the trend line. I wouldn’t be surprised because it completely drops the trend line, just a low backup here. It wouldn’t surprise me. That’s why to map the right points out. So, you’re not letting your emotion killed with the rounds on the news.

So after this breakout, where we are? another higher high and continue higher high. You can even make a striper trend line. Okay, again, we’re talking about super stip trend line, about moves, trade-up vertical. Just be prepared for healthy, profit-taking feedback

One price came back to the area here. Look at that, up to 7372. And we add a trend line here. Ok, so, we pointed 7500 area is falling next week. Try rally to backup today, 8000 and it falls out.

So you have 6 green candles, 6 weekly, that’s a good run-up. If you’re a long-term investor, what you gonna do?

Nice, see this area, this is an area to buy right here, to get support here, 6000 is the key area, 6 trend lines, this is area right here. I see it clearly supports another way down to 5111.

We have two weeks to buy it. The close is at 8000 but you have a week to change what you buy. We have time. Came up to the 8000, close at here up 8000 and make a higher high and drop to the prices and drop to the prices again.

We gonna change a trend line, you do not cut through the candles, and the trend line stops it. Higher high, remember this week, this was Thanksgiving November 27th, the week of November 27th. It really.

Now looking at this, when the price came back to 8000, we get a striper and another trend line. We will come back to the 8000 area to buy, and look at this trend line right here.

What would you gonna do? Bounce to that 16000, close right here at 12247 area.

Look at that, what’s your plan? We’re gonna on the way down here and you reach 16000, what’s your plan? Do you wanna hold? We’re gonna do. Here the rally. Is this unstainable?

So we’re gonna bounce that to 20000 area. December 11th, it is around the time Bitcoin Future is coming out. So, this really is going up.

Even from November, October special in November like Bitcoin Future new’s coming out. Look at that rally, almost to 20000. And what we have here? Are we gonna go up? Is this price simple alone?

Now the price close here on the trend line. It’s red because the price is lower than the open. Okay, one price closes at the open of green. It came all the way down here 11400 area. 11300 doesn’t surprise me at all.

Next, inside the week, we did break the uptrend right here. See the green candles, sideway support is not making a higher high. Ok so, let me map the show.

The line map is going high, but at 18500, it’s going low, it takes a lot of time to do this right now, I’m gonna line up.

You have a low 11121and a high 19649, keep price point, you can continue, it’s going sideways, commercial break. Okay, so price low here for this week of 13500 area. It maintains support, there’s support here. It’s nice, keep it and hold it.

That’s it, that’s a break. Next month I will have another method that I’ll use. So this is done. So my eye, it’s gonna watch out. Rally here and I’m gonna make it’s blue and this will be kept pink.

What are we gonna do? Its price continues the range 19700 down to 11200, it’s weekly. If it breaks the low, I will not be surprised at all. The trend line right here in a weekly. Don’t ignore it. Don’t get scared. A lot of people trading convert into cash or bitcoin. Thanks for hand in with me and I will see you again in really soon.  Have some money ready to buy more Bitcoin. I’ll see you later, bye.

 

 

 

 

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