BitcoinLong
Bullish W - pattern
Between 19th and 31st of July a bearish M-pattern was created, followed by massive drop.
In the recent days we see a bullish W-pattern building and once it is finished the probability for a long entry is high, with a profit target at 72K.
Additionally BTC is building the pattern after the RSI has already broken the 14 days SMA.
An additional RSI-divergence with the double bottoms of the W-pattern would be nice though.
In the recent days we see a bullish W-pattern building and once it is finished the probability for a long entry is high, with a profit target at 72K.
Additionally BTC is building the pattern after the RSI has already broken the 14 days SMA.
An additional RSI-divergence with the double bottoms of the W-pattern would be nice though.
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.