After breaking down from the 6000$ level BTC has completed 5 wave down to test the present yearly low at 3470$ level. I see potential retracement opportunity if not a complete reversal for a possible re-test of 5500$ level.
Detected possible Inverse head and shoulder although many many of this pattern has failed recently. We keep our finger crossed and see how this is develop.
Kindly follow the stop loss advice on the chart.
Possible Entry and exit targets are clearly stated on the chart.
BLUE: POSSIBLE ENTRY ZONE
RED: Possible Support LEVEL
GREEN: SELL TARGETS
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Note:
It will be good to always understand risk involve in trading. Always trade with stop Loss in place.
Set up an entry/exit strategy for every trade, with good risk/reward ratio.
Detected possible Inverse head and shoulder although many many of this pattern has failed recently. We keep our finger crossed and see how this is develop.
Kindly follow the stop loss advice on the chart.
Possible Entry and exit targets are clearly stated on the chart.
BLUE: POSSIBLE ENTRY ZONE
RED: Possible Support LEVEL
GREEN: SELL TARGETS
Join our discussion room for more about our trading ideas.
Please share your thougths about it and support my post with your LIKES.
Thanks
Note:
It will be good to always understand risk involve in trading. Always trade with stop Loss in place.
Set up an entry/exit strategy for every trade, with good risk/reward ratio.
Trade active
The volume is looking good.Trade closed: target reached
First target achieved, what a fast profit.Trade active
Typical wave count show case a complex correction on BTC, do have the view on the chart. We might have hit citical level on BTC. Fingers crossed.Trade active
All timeframe painting potential reversalTrade closed: target reached
Second target achieved and at same time price hit wave 3 of the short term count.Trade active
Trade active
Possible wave structure of the correctionNote
if price break through 3550 then the next target will be a test on the downside trendline to form possible divergence in the region of 3170$.Trade active
BTC did just as expected.Trade active
Trade active
Trade closed: target reached
Another set target is achieved, price completed the first Inverse head and shoulder. and initiated the second bigger inverse head and shoulder.Trade active
Trade active
support my post with your LIKES.
Thanks
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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.