Today I would like to introduce you to the Range fill analysis explanation for BTCUSD
This BTCUSD analysis is based on Daily timeframe , with the Exponential Moving Averages (emas) the confluence for our great analysis.
The BTCUSD has had a bearish momentum and now, it is hanging in an area with no any strong support level to stop this momentum.
The concept of range fill is built under the use of two things, first there has to be a support with consolidation that has hold for long, with our case the price range was at 4000.00 then the price departs far from it, with our case our case 13800.00 then fails to move further and shows the momentum of going back to its old support with consolidation.
As it can be seen the price is currently at 7260.70 level showing a good bearish momentum, this has been proven by the ema cross. Since the concept of this emas is that when 14 ema crosses ema 50 and stays below it is a proof for strong bearish momentum.
Trade Setup: 14ema cross 50ema from above
Sell entry should be at 7100.00
Stop loss, should be at 8500.00
Take profit should be 4000.00
More ideas: https://www.tradingview.com/u/PipVision/