BTC-Analysis
Updated
Bearish indications:
Head and shoulder pattern in day time frame , MA 21 respected as well.Bearish divergence in the higher time frame.
MA 21 is crossing over MA 200 indicates bearish & MA 21 is respecting the candles .
Pattern formation from the support is not clear to go bullish as its choppy.
Currently in the range and the trade can be taken only after the range breaks out.
Possible distribution level due to higher volume candles while prices also dropped.
If the support breaks the level of 91307 , then the next target will be 73097 based on head and shoulder projection.
Bullish indications:
Bullish piercing candle from support indicates possible bullish move before it falls .
This may be bullish if the price breaks 96500 once its breaks the MA 200.
Forming inverted head and shoulder pattern but the resistance is not broken yet.
Trade plan bias short once the support breaks at 91270
SL:95712
TP1:85442
TP2:80588
If the resistace breaks and sustains at 95900
Entry will be at 95955
SL:91276
TP1:99297
TP2:102397
Head and shoulder pattern in day time frame , MA 21 respected as well.Bearish divergence in the higher time frame.
MA 21 is crossing over MA 200 indicates bearish & MA 21 is respecting the candles .
Pattern formation from the support is not clear to go bullish as its choppy.
Currently in the range and the trade can be taken only after the range breaks out.
Possible distribution level due to higher volume candles while prices also dropped.
If the support breaks the level of 91307 , then the next target will be 73097 based on head and shoulder projection.
Bullish indications:
Bullish piercing candle from support indicates possible bullish move before it falls .
This may be bullish if the price breaks 96500 once its breaks the MA 200.
Forming inverted head and shoulder pattern but the resistance is not broken yet.
Trade plan bias short once the support breaks at 91270
SL:95712
TP1:85442
TP2:80588
If the resistace breaks and sustains at 95900
Entry will be at 95955
SL:91276
TP1:99297
TP2:102397
Trade closed: stop reached
Stop reached in short trade.Note
Long trade target 1 reached Note
Long trade TP2 reached.
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