Learn to Evaluate (BTCUSD) using the Charts

January 14, 2024, 15:06 pm ET, BY Barry C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for BTCUSD

• Buy BTCUSD slightly over 37865.16 target 43370.64 stop loss @ 37755.81 Details

The technical summary data tells us to buy BTCUSD near 37865.16 with an upside target of 43370.64. This data also tells us to set a stop loss @ 37755.81 to protect against excessive loss in case the stock begins to move against the trade. 37865.16 is the first level of support below 42588.9 , and by rule, any test of support is a buy signal. In this case, support 37865.16 is being tested, a buy signal would exist.

• Short BTCUSD slightly under 43370.64, target 37865.16, stop loss @ 43495.89 Details

The technical summary data is suggesting a short of BTCUSD as it gets near 43370.64 with a downside target of 37865.16. We should have a stop loss in place at 43495.89though. 43370.64 is the first level of resistance above 42588.9, and by rule, any test of resistance is a short signal. In this case, if resistance 43370.64 is being tested, a short signal would exist.

Swing Trading Plans for BTCUSD

• Buy BTCUSD slightly over 43370.64, target 44536.86, Stop Loss @ 43245.39 Details

If 43370.64 begins to break higher, the technical summary data tells us to buy BTCUSD just slightly over 43370.64, with an upside target of 44536.86. The data also tells us to set a stop loss @ 43245.39 in case the stock turns against the trade. 43370.64 is the first level of resistance above 42588.9, and by rule, any break above resistance is a buy signal. In this case, 43370.64, 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 43370.64, target 37865.16, Stop Loss @ 43495.89. Details

The technical summary data is suggesting a short of BTCUSD if it tests 43370.64 with a downside target of 37865.16. We should have a stop loss in place at 43495.89 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, 43370.64, 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 43370.64, target 43640.36, Stop Loss @ 43269.46 Details

If 43370.64 begins to break higher, the technical summary data tells us to buy BTCUSD just slightly over 43370.64, with an upside target of 43640.36. The data also tells us to set a stop loss @ 43269.46 in case the stock turns against the trade. 43370.64 is the first level of resistance above 42588.9, and by rule, any break above resistance is a buy signal. In this case, 43370.64, 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 43370.64, target 37865.16, Stop Loss @ 43471.82. Details

The technical summary data is suggesting a short of BTCUSD if it tests 43370.64 with a downside target of 37865.16. We should have a stop loss in place at 43471.82 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, 43370.64, 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  ^btcusd (BTCUSD) available here: BTCUSD.

BTCUSD Ratings for January 14:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Strong
P1	0	0	32944.25
P2	43640.36	44536.86	37865.16
P3	46121.46	47754.89	43370.64

AI Generated Signals for BTCUSD

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  ^btcusd (NASDAQ: BTCUSD) report below can help you understand how to do this. The trading plans for BTCUSD, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.