BTC chart for 1/5/21 @ 11am EST showing possible trend lines
todays chart is showing breakout of the long term pendant to the upside. however we are struggling to pass the head and shoulders neckline.. keep in mind this head and shoulders is also within a larger W pattern. a break of the W neck line will be bullish signal.
always wait for larger than average volume to provide confirmation that there is buying/selling pressure in the direction your looking to go.
if we break the red line id very bearish and probably see a 27K again and maybe even as low as 23K.
if we break the purple line we can see 36K followed by 46K and 53K as per the FIB's
tip of the day..."the trend is your friend til the end" -mmcrypto
***im not a professional...i do this so you dont have too :P****
like and subscribe if you enjoy the content
always wait for larger than average volume to provide confirmation that there is buying/selling pressure in the direction your looking to go.
if we break the red line id very bearish and probably see a 27K again and maybe even as low as 23K.
if we break the purple line we can see 36K followed by 46K and 53K as per the FIB's
tip of the day..."the trend is your friend til the end" -mmcrypto
***im not a professional...i do this so you dont have too :P****
like and subscribe if you enjoy the content
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.