As we can see here, a 123 reversal pattern is forming, BTC can not make it to break the new level at 9188 (marked with number 1).
So we wait for price to go down below 8515 to confirm a new downtrend.
Additional, MACD below shows a signal for short orders, I think a bearish trend is possible.
Price may bounce back at strong support zone at 61.8% fib and go back trying to break 9188 again.
Good luck!
So we wait for price to go down below 8515 to confirm a new downtrend.
Additional, MACD below shows a signal for short orders, I think a bearish trend is possible.
Price may bounce back at strong support zone at 61.8% fib and go back trying to break 9188 again.
Good luck!
Note
Sorry for the wrong information in description, the break down like is 8368Note
We have a bearish pattern waiting for being confirmed hereNote
We got got it broken, confirmed the bearish flag patternNote
After a false break, BTC price tries to break the pattern againNote
Bearish confirmed!Note
On 4h chart, the range of flag pattern seems wider than I thought after a day. So now I update the new flag pattern on 4h chart. My opinion is still the same: a bearish is coming.Note
BTC price has broken 8368. Now we expect a new downtrend to at least 8214 which is 61.8% fib level.Trade closed: target reached
Support zone touched.BTC price will go down a bit and retrace back to 8k5-8k6 level.
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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.