Trend Tracker for Bitcoin Futures October 2023 $~BTCUSD

October 21, 2023, 16:00 pm ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ~BTCUSD

• Buy ~BTCUSD slightly over 27111.37 target 30786.72 stop loss @ 27033.07 Details

The technical summary data tells us to buy ~BTCUSD near 27111.37 with an upside target of 30786.72. This data also tells us to set a stop loss @ 27033.07 to protect against excessive loss in case the stock begins to move against the trade. 27111.37 is the first level of support below 29590.1 , and by rule, any test of support is a buy signal. In this case, support 27111.37 would be being tested, so a buy signal would exist.

• Short ~BTCUSD slightly under 30786.72, target 27111.37, stop loss @ 30875.63 Details

The technical summary data is suggesting a short of ~BTCUSD as it gets near 30786.72 with a downside target of 27111.37. We should have a stop loss in place at 30875.63though. 30786.72 is the first level of resistance above 29590.1, and by rule, any test of resistance is a short signal. In this case, if resistance 30786.72 is being tested, so a short signal would exist.

Swing Trading Plans for ~BTCUSD

• Buy ~BTCUSD slightly over 30786.72, target 34780.84, Stop Loss @ 30697.81 Details

If 30786.72 begins to break higher, the technical summary data tells us to buy ~BTCUSD just slightly over 30786.72, with an upside target of 34780.84. The data also tells us to set a stop loss @ 30697.81 in case the stock turns against the trade. 30786.72 is the first level of resistance above 29590.1, and by rule, any break above resistance is a buy signal. In this case, 30786.72, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ~BTCUSD slightly near 30786.72, target 29468.01, Stop Loss @ 30875.63. Details

The technical summary data is suggesting a short of ~BTCUSD if it tests 30786.72 with a downside target of 29468.01. We should have a stop loss in place at 30875.63 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 30786.72, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ~BTCUSD

• Buy ~BTCUSD slightly over 30255.94, target 30786.72, Stop Loss @ 30185.35 Details

If 30255.94 begins to break higher, the technical summary data tells us to buy ~BTCUSD just slightly over 30255.94, with an upside target of 30786.72. The data also tells us to set a stop loss @ 30185.35 in case the stock turns against the trade. 30255.94 is the first level of resistance above 29590.1, and by rule, any break above resistance is a buy signal. In this case, 30255.94, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ~BTCUSD slightly near 30255.94, target 29468.01, Stop Loss @ 30326.53. Details

The technical summary data is suggesting a short of ~BTCUSD if it tests 30255.94 with a downside target of 29468.01. We should have a stop loss in place at 30326.53 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 30255.94, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Bitcoin Futures October 2023 (~BTCUSD) available here: ~BTCUSD.

~BTCUSD Ratings for October 21:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	27111.37
P2	29419.10	27876.34	30786.72
P3	30255.94	29468.01	34780.84

AI Generated Signals for ~BTCUSD

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The data for Bitcoin Futures October 2023 (NASDAQ: ~BTCUSD) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ~BTCUSD change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ~BTCUSD is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for ~BTCUSD too.  All of these are offered below the Summary Table.