I think that btc had formed a Adam and Eve Double Bottom and now drawing a handle. The breakout of the handle usually leads to a major move.
Unfortunately the handle has a head and shoulders shape which has a bearish bias.
On a Breakdown it might find support one range below.
If the neckline holds we can be bullish again with a target around 4700 to complete the A&E Bottom and could even trend higher.
Unfortunately the handle has a head and shoulders shape which has a bearish bias.
On a Breakdown it might find support one range below.
If the neckline holds we can be bullish again with a target around 4700 to complete the A&E Bottom and could even trend higher.
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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.