Bitcoin is right now forming a bullish cypher pattern which is a bullish harmonic pattern. If it plays out a perfect entry would be around the $34600 area. Target would be 41-42k. Here are the following reasons why this would be a great entry:
I think these are pretty valid reasons to enter this long position and remember, only enter if price reaches point D which is around $34600 - $34500! Follow for more free trade setups. Good Luck traders!
- Hidden Bullish divergence on the hourly.
- Bullish Cypher with almost perfect retraces.
- Perfect retest of the falling wedge that has formed on the daily candle
- BTC is currently in phase D of the wyckoff accumulation pattern which according to the pattern should be a big move towards the 41-42k resistance area.
I think these are pretty valid reasons to enter this long position and remember, only enter if price reaches point D which is around $34600 - $34500! Follow for more free trade setups. Good Luck traders!
24k BTFD
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24k BTFD
Related publications
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.