BTC - Bulls Vs Bears (as always)
Updated
Dear all,
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
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:Note
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.
Note
Nice bullish div on the 1h TF Note
Note
Interesting falling wedge on 1H with support on RSINote
Following perfectly the expected diamond bottom so farNote
BTC looking good thos past 2 days.Diamond bottom almost completed, inv H&S taking shape:
Note
RSI is off the charts on the 4h and now the daily is printing a bearish divergence.Looking to reenter long at those areas:
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