BTCUSD Weekly Chart
The blood diamond on BTCUSD weekly chart had confirmed with a high number of 22 at the top of the candle! This is the first time that BTCUSD weekly chart had blood diamond ever since BTCUSD started being traded. Blood diamond is a bearish indication and most of the time after the blood diamond confirmed then dip/dump will happen. The money flow has crossed to below the 0 line. At this moment, what I did was trade cautiously, keep the stop loss tight. Will the blood diamond become invalid on the weekly chart? I don't know. The price action is making lower high on the weekly, that look good. The support at the $38,000 area is strong, being tested by wick indicate demand filled.
BTCUSD 2 Days Chart
On the BTCUSD 2 day chart, it showed that trigger wave is being formed, almost complete soon with a high probability of green dot, the money flow is slowly curving up and the VWAP look like going to cross the 0 line from the negative to positive soon. None of this can confirm now because of the 2 days candles hasn't close yet. Will this be the bull trap since weekly chart indicated bearish? There is a possibility, currently BTCUSD is trading inside the ascending channel.
BTCUSD 4 Hour Chart
As of now $42,000 to $42,200 is the resistance and also the EMA 200 at the BTCUSD 4 hour chart. There were 2 attempt test, both are wicks and unable to reclaim the area of resistance. Expecting some selloff before BTCUSD make another attempt to the resistance area with a possible of red dot appear on the new 4 hour candle in 8 minutes although the VWAP is above the 0 line.
There's this question that I always ask when the situation is suitable in a conversation. Would you rather be RIGHT or PROFITABLE when you in the market?
You're welcome to share me your answer with your point of view/opinion regarding the questions and chart of yours in the comment below. :)