Here is the current view on BTC that I am monitoring.
We really had a fight right now between Bullish and Bearish patterns.
Bulls: - Inverse Head & Shoulders in formation (Target $7,900 area) - Possible Diamond bottom
Bears: - Downward break out of the falling wedge - Trend line rejection on the Daily at key $6,800 level - RSI too high to have another significant rally - Could end up in a future descending triangle along resistance line
On my side I entered long at $6,350 with tight stop loss, and I'm looking at $6,180 and a possible option for the top of the Right Shoulder. Below that we are likely to retest the $5,800 area or even lower.
All the Best from the Crypto Space Alteroc
Trade active
Also watching this formation:
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Touched the support of bottom diamond and now left shoulder equals right. If we bounce from here I'm still long. If not my short target is $5,800 and $5,400 to begin with.
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Nice bullish div on the 1h TF
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Interesting falling wedge on 1H with support on RSI
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Following perfectly the expected diamond bottom so far
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BTC looking good thos past 2 days.
Diamond bottom almost completed, inv H&S taking shape:
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RSI is off the charts on the 4h and now the daily is printing a bearish divergence.
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