$BTC For Bitcoin analysis on TradingView, use these popular indicators and setups:
1. *Moving Averages (MA)*: Add a 50-period and 200-period SMA (Simple Moving Average) to spot trends. When the 50-MA crosses below the 200-MA, it’s a “death cross” (bearish signal).
2. *Relative Strength Index (RSI)*: Set RSI to 14 periods. Values below 30 indicate oversold (potential buy), above 70 indicate overbought (potential sell).
3. *MACD (Moving Average Convergence Divergence)*: Use default settings (12, 26, 9). A MACD line crossing below the signal line suggests bearish momentum.
4. *Bollinger Bands*: Helps identify volatility. Price touching the lower band may signal a bounce.
5. *Volume Profile*: Shows traded volume at specific price levels, highlighting support/resistance zones.
*Trading strategy setup for Bitcoin:*
- *Entry*: Look for a bullish reversal pattern (e.g., hammer) near a strong support level with rising volume.
- *Stop-loss*: Place below the recent low or support zone to limit risk.
- *Target*: Set profit targets at previous resistance levels or use a risk-reward ratio (e.g., 1:2).
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