BTC Target $40K - Forming Inverse H&S
Hey long time didn't saw all my members,I've been a little busy. So today i'm going analysis BTCUSD chart in Logarithmic chart,let's begin...
1)In 2017 BTC ATH was 20K and then we made long term Downtrend approximately more than a year, so when we Broke long Downtrend line in beginning of April 2019 BTC begin rise again.
2)Now BTC in Downtrend,this Downtrend begin last year November already one year.
3)BTC in weekly chart forming Inverse H&S Pattern, so already we formed left shoulder and head now forming right shoulder,after completely right shoulder we must try Breakout from Neckline,if we can Breakout from Neckline and close weekly candle around this range 21K-
23K we can expect 40K approximately and long term Uptrend.
4)If we take look RSI Oscillator, we can see previous Oversold zone BTC was in end of 2018 and begin of 2019,now we are same Oversold zone 30,so this mean Bulls Accumulating BTC and preparing for next Bull Cycle.
5)BTC now holding nicely at 16K-18K, previous ATH now is acting support
This analysis is for long term, so i thing its will help a lot of people like and subscribe me,Have Nice Day)))
1)In 2017 BTC ATH was 20K and then we made long term Downtrend approximately more than a year, so when we Broke long Downtrend line in beginning of April 2019 BTC begin rise again.
2)Now BTC in Downtrend,this Downtrend begin last year November already one year.
3)BTC in weekly chart forming Inverse H&S Pattern, so already we formed left shoulder and head now forming right shoulder,after completely right shoulder we must try Breakout from Neckline,if we can Breakout from Neckline and close weekly candle around this range 21K-
23K we can expect 40K approximately and long term Uptrend.4)If we take look RSI Oscillator, we can see previous Oversold zone BTC was in end of 2018 and begin of 2019,now we are same Oversold zone 30,so this mean Bulls Accumulating BTC and preparing for next Bull Cycle.
5)BTC now holding nicely at 16K-18K, previous ATH now is acting support
This analysis is for long term, so i thing its will help a lot of people like and subscribe me,Have Nice Day)))
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