BTCUSD has been in consolidation for about 2 months. The recent surge might have shown some signs that the down trend is over.
However, I think it's still too early to say so. At the 4H chart there's a H&S pattern. Nonetheless, price bounced off strongly at the neckline. And now there's a build up/ consolidation which is a sign of an impending up move..about 2000-2500 points i.e 5%.
The overhead resistance at around 42,500 remains a threat.
Trade cautiously!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
However, I think it's still too early to say so. At the 4H chart there's a H&S pattern. Nonetheless, price bounced off strongly at the neckline. And now there's a build up/ consolidation which is a sign of an impending up move..about 2000-2500 points i.e 5%.
The overhead resistance at around 42,500 remains a threat.
Trade cautiously!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Trade closed: target reached
That's a quick 5% profit!Let's see if we get a candle stick reversal pattern at the 4H chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.