BTC The Bearish Breakout!?
What do we have here? Is there any pattern to follow?
We are currently looking at 3 patterns in 1H Time Frame.
1. Descending wedge tells us we are going up for breakout with $48,290 Take Profit (TP) target.
2. M Pattern / Double Top Pattern with $44,916 Target Profit.
3. Cup & Handle Pattern which is also bearish. With the handle insight, first TP will be $46,057.8, and the second TP will be $45,088.7 thanks for the hint from the Cup.
Nonetheless we are still looking at a smaller time frame which can still be affected by bigger time frame.
We will wait when the volume kicks in and know where it is going. as the Europe market open and the US market open it will bring more volatility in the market.
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Disclaimer: Above technical analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
We are currently looking at 3 patterns in 1H Time Frame.
1. Descending wedge tells us we are going up for breakout with $48,290 Take Profit (TP) target.
2. M Pattern / Double Top Pattern with $44,916 Target Profit.
3. Cup & Handle Pattern which is also bearish. With the handle insight, first TP will be $46,057.8, and the second TP will be $45,088.7 thanks for the hint from the Cup.
Nonetheless we are still looking at a smaller time frame which can still be affected by bigger time frame.
We will wait when the volume kicks in and know where it is going. as the Europe market open and the US market open it will bring more volatility in the market.
Want more insights before US market open? Hit Like, Share, and Subscribe for more daily trading tutorial & cryptocurrency news
TradeScholar, the best cryptocurrency educational community online!
Find the content above difficult to understand?
Feeling lost about how to trade?
Want to learn how to do your Own Price Prediction?
We endeavour to share you our investment knowledge & experience in order to help you starting your path to financial freedom. Follow, Subscribe & Join our Community to trade together!
Disclaimer: Above technical analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
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