Review last week's trading plan

Last week, when the weekly candle had less than a few hours left to close, it jumped more than 3,000 USD in price and withdrew, making all the predictions in my plan no longer accurate. BTC has increased very strongly this week, but there has been no major correction yet and therefore, I do not have a plan for you to follow.

Bitcoin (BTC) analysis and commentary next week

Last week's candlestick, if there were no further fluctuations, would have shown a huge bullishness with a candle length of more than 5900 prices (an increase of 27.38% from the opening price). This week's candle also broke out of BTC's old resistance at $25,200. So, for the coming week, our main view should be long following the trend.

In the 3D frame, you can see peak divergence when the price creates a new peak that is higher than the old peak, but RSI creates a new lower peak => We should not long at the current price but should wait for the price to adjust.

Plan 1:

Wait for the price to retest the support zone (formerly resistance), from about 24,800 - 25,100 USD and increase.

Plan 2:

In this Plan, Price continues sideways, then dumps strongly below support => in this plan you can short after dumping and retest.

Note:

– You need to pay attention to the very strong resistance at the 30,000 USD mark that is about to be retested. It can be said that this period is quite difficult in predicting the medium-term trend of BTC. Therefore, I will only focus on scalping following the short trend and tight stop loss.

– This is the stage that makes many people confused and find it difficult to decide. I am also among them, so if the price is according to the plan, I will trade, otherwise I will accept to wait and wait.

BTC.D

BTC.D has continued its uptrend and is rising very strongly. Currently, it is difficult for us to expect altcoins to grow well because capital flows are being attracted to BTC. Next week, we hope that along with BTC's downward adjustment, BTC.D can adjust to help altcoins grow better.