BTC | Potential reversal ongoing, needs confirmation
Current trend is : CHOP - Bearish in reversal.
That means if you want to play safe with the trend, this is a no trade zone.
Further analysis:
Personal opinion:
S1 broken is a win for bulls. I think S2 gets broken before S3 and we see a bull trend reforming.
If that is the case, i will be longing the retest of the S2 zone.
That means if you want to play safe with the trend, this is a no trade zone.
Further analysis:
- S1 has been broken, showing bull pressure and trend weakening
- S2 zone remains the bulls objective to confirm a reversal. Until we did not break S2, we cannot confirm a reversal.
- S3 zone is the target for bears: break this and the bear trend is confirmed.
Personal opinion:
S1 broken is a win for bulls. I think S2 gets broken before S3 and we see a bull trend reforming.
If that is the case, i will be longing the retest of the S2 zone.
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.