WHY I’M BULLISH AND BEARISH ON BTC
TOP DOWN ANALYSIS ON BTCUSD
Bitcoin have shown some signs of bullish trend(remember this market have been in bearish trend ever since the weekly Double Top + Head and shoulder pattern neckline was broken). And you know when this patterns are form on a higher timeframe it’s a sign of strong reversal. In as much am still bearish on Bitcoin i will taking short position(without holding for long) to take Profit on the neckline of 31k - 33k. The reasons for this is that, BTC have broken the counter trend line and retest, we could see a move to the up side coming weeks.
Note: ⚠️ ⚠️⚠️⚠️⚠️⚠️⚠️⚠️
Remember the Head and shoulder pattern on the weekly timeframe once it retest on the neckline of 31-33k, then we find a selling opportunity. From there BTC come could fall below 18k which is the next major Resistance zone that could turn support zone.
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.