BTCSUD - time to make a short correction?
The daily chart shows a validated bat pattern and a hypothesis of a butterfly pattern with C and D point on the resistance/support already traced.
On the 1H there is a rising wedge almost and the end, touching the D1 resistance and with lowering volumes, this could reinforce a possible change of trend.
This could lead to a downtrend around 6900-7400$, and this could potentially be the last time to accumulate btc at a good price.
I consider the butterfly invalidated if price goes over 50 SMA or if RSI reach 60
In short next hours could be hot! Stay tuned!
#BTC #trading #BITCOIN #cryptocurrencies #criptovalute #analysis
On the 1H there is a rising wedge almost and the end, touching the D1 resistance and with lowering volumes, this could reinforce a possible change of trend.
This could lead to a downtrend around 6900-7400$, and this could potentially be the last time to accumulate btc at a good price.
I consider the butterfly invalidated if price goes over 50 SMA or if RSI reach 60
In short next hours could be hot! Stay tuned!
#BTC #trading #BITCOIN #cryptocurrencies #criptovalute #analysis
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.