Trading Plan 68 (September two – October eight, 2023) – Amazing program for BTC
one. Review final week’s trading program
Last week, we had a incredibly prosperous trading week as we matched BTC brief and lengthy strategies and also produced high-quality altcoin bets.
Last week’s program:
four-hour chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of September 24, 2023
Result:
four-hour chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of October one, 2023
Additionally, we also have EDU and AGIX that we identified as on our channel 68 Commerce with a revenue of roughly +ten%.
two. Analysis and commentary on Bitcoin (BTC) up coming week
1W chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of October one, 2023
The weekly frame offers me an concept for the medium phrase, which is to assume BTC to return to check the demand zone at USD 29,600 – 29,800 once more and build a head and shoulders pattern, and then drop once more. .
In addition to the over floor, we can also speedily draw the conclusion that the USD 24,700 place is a rather really hard assistance, so if there is a situation that the rate breaks by way of this place, the rate can drop a lot deeper.
1D chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of October one, 2023
Frame D demonstrates us that BTC’s bullish momentum is basically not completely sure. Weekend candles are fairly tiny (in terms of candle entire body) and never basically carry incredibly powerful signals. Therefore, BTC may well proceed to “hang around” for a even though longer. The two EMA lines (81) and (200) are nonetheless acting as resistance in the D frame and for the rate to proceed increasing, a powerful breakout from these two EMA lines is wanted.
Scalping program for BTC this week:
four-hour chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of October one, 2023
The 4H frame has a fairly great Cup with manage model with a resistance zone correct at $27,one hundred, if the rate can get over $28,000 – $28,400 you can stretch it.
BTC.D
Bitcoin Dominance Index (BTC.D), screenshot from TradingSee on the evening of October one, 2023
BTC.D failed to hold over 49.9%. My brief-phrase expectation for up coming week is a slight correction of BTC.D to 48% to build a premise for some altcoins to develop much better.
three. Some strategies for Altcoins
SUI
four-hour chart of the SUI/USDT pair on Binance Futures, screenshot from TradingSee on the evening of October one, 2023
SUI is carrying out fairly properly in the 4H frame. You can wait for the rate to break out of the USD .493 place and proceed getting, or acquire at this rate with a prevent reduction under USD .46.
four. Macroeconomic information
This week there will be some notable information:
October two, 2023at 10pm, Fed Chair Powell will give a speech. This is a time period when costs can fluctuate incredibly unpredictably, so I personally sat out and largely watched the written content of the speak.
October four, 2023at seven:15 p.m., the United States will announce the information Change in ADP non-agricultural employment. It should really be mentioned that real information exceeding forecasts will be thought of favourable for the USD and vice versa.
October six, 2023at seven.thirty pm, there will be two significant pieces of info:
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Non-agricultural occupations: measures the adjust in the amount of folks employed in the preceding month (excluding agriculture). If the real information is increased than forecast, it will be favourable information for the dollar and vice versa.
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Unemployment fee: measures the percentage of the complete functioning-age population that is unemployed or hunting for get the job done. Actual information exceeding forecasts will be unfavorable for the dollar and vice versa.
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