BTC Bounce Back!?
Updated
What do we have here?
BTC just slip to 47k . It did not happen just because it happened. It is perfectly hitting the price target for the M Pattern or The Double Top with low volume from our Awesome Oscillator Indicator.
The bulls tried to continue the bull run but no volume is available, so the bears overpowered them with the whooping
4K lost in price action.
What is the next price target we are looking at for BTC?
Currently we are on a healthy retracement from RSI oversold. breakout to the upside from the channel down trend line. Buy in the green price and take profit in the $49,289 for the breakout price.
With Awesome Oscillator, the index is still telling us that we still have volume to go down so we can expect more to the downside. of course with retracement as our RSI is already oversold in 1H TF.
Other Possibility?
If you are not planning to go against the trend in the bigger picture. you can wait and short when the price reaches The FIB Retracement at 0.618 then exit at the current support ($45-46k). However our price target is way below the major support ($45-46k), we can target profit around $44,800 for the breakout price of the rising wedge. since $44,933 is the breakout price for The Head & Shoulder Pattern inside the rising wedge, so the Golden Ratio we are expecting is about $44,280.
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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.
BTC just slip to 47k . It did not happen just because it happened. It is perfectly hitting the price target for the M Pattern or The Double Top with low volume from our Awesome Oscillator Indicator.
The bulls tried to continue the bull run but no volume is available, so the bears overpowered them with the whooping
4K lost in price action.What is the next price target we are looking at for BTC?
Currently we are on a healthy retracement from RSI oversold. breakout to the upside from the channel down trend line. Buy in the green price and take profit in the $49,289 for the breakout price.
With Awesome Oscillator, the index is still telling us that we still have volume to go down so we can expect more to the downside. of course with retracement as our RSI is already oversold in 1H TF.
Other Possibility?
If you are not planning to go against the trend in the bigger picture. you can wait and short when the price reaches The FIB Retracement at 0.618 then exit at the current support ($45-46k). However our price target is way below the major support ($45-46k), we can target profit around $44,800 for the breakout price of the rising wedge. since $44,933 is the breakout price for The Head & Shoulder Pattern inside the rising wedge, so the Golden Ratio we are expecting is about $44,280.
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 learn more!
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.
Note
we are forming bear flag in the 4h tf.
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