Source from tradingview and capture it via computer.
Day 1 Chart
As disclaimer the information is not from me and I'm not also a financial advisor. I just share my opinion that I seen on the chart. This is ranging in this level you might win o lose. A lot of people say never trade on ranging or what we call contraction. Too early to tell but probability to buy or sell afterwards. Since the chart tells here, is needed to wait and check on probable next move of the bitcoin. But as you can see the bitcoin breaks the break-out. Will it continue going down or buy?
Source from Investopedia.
A little background on bitcoin.
"Bitcoin was introduced to the public in 2008 by an anonymous developer or group of developers using the name Satoshi Nakamoto. It has since become the most well-known and largest cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies."
According from the other source from coindesk.com
A negative one, 6 hours ago.
What to know:
- Crypto -related stocks fells sharply on Tuesday as markets turned risk-off with BTC
dropping to $113,000. - MSTR fell 7.8%, while some ETH and SOL-focused digital asset treasuries suffered deeper drawdowns.
- Investors are cautious ahead of Federal Reserve Chair Jerome Powell's upcoming speech.
Next, a negative news report comes out from the Coindesk source
Headline: Crypto Bleeds Ahead of Powell's Jackson Hole Speech- Eight Reasons Why Traders Are Nervous
I will tell all the details but that is from the news if there are any negative news related to bitcoin, that is also the result that you can see on the chart.
4 hour timeframe.
In 4-hour time frame there is an indication of a buy, but is it a temporary to go up or will the market directly goes down?
2 hour timeframe.
For the 2-hour timeframe still the same there is an in dication of a buy and the question still will it go for buy or sell?
One-hour time frame
Same on 1-hour timeframe, indication of a buy and slightly to break out.
30-minutes timeframe.
Same as here on the 30 minutes timeframe, but after this slight pull back. Will go up or continue to go down?
15 minutes timeframe
5-minutes timeframe
Lastly, 1 -minute timeframe
Captured at exactly 12:38pm +8 UTC
Another photo.
As a disclaimer, once again, I'm not a financial advisor and always remind you that trading is risky and needs to have practice and never trade if you are not confident or don't have enough background to this skill.
But as I can see on the chart, it is already buuying but bear in mind please be careful and use indicators as a confirmation and other sources. Always have stop loss as well and take profit to eliminate loss. Personally, I still don't do trading as for profit, I just love the analysis and reading of charts and not an expert here, still learning.
Hope I give value today and never trade based on emotions.
Happy Wednesday!