BTC Broke out of resistance, Invalidating the Rising Wedge formation however the H&S pattern could still be in play but the right shoulder doesn't look to pretty anymore.
Points to consider:
- We still have a clear bearish divergence on the daily time frame with volume tapering off
- Hitting resistance at $8700, Resistance turned support will be confirmed if price retests and holds $8200
- 4hr EMA 8, Bullish as holding price at current given time
We could be forming an daily equilibrium pattern where Bitcoin will eventually choose a path..
What are your thoughts on the current price action?
Have a good day and please give me a like and follow :))
Points to consider:
- We still have a clear bearish divergence on the daily time frame with volume tapering off
- Hitting resistance at $8700, Resistance turned support will be confirmed if price retests and holds $8200
- 4hr EMA 8, Bullish as holding price at current given time
We could be forming an daily equilibrium pattern where Bitcoin will eventually choose a path..
What are your thoughts on the current price action?
Have a good day and please give me a like and follow :))
Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
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partner.blofin.com/d/alchemisttrader
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Free Alpha Group t.me/freetradingden
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
Unlock up-to $8,000 USDT in bonuses, only at Blofin - Link Below to start Trading.
partner.blofin.com/d/alchemisttrader
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.