BTC big drop coming ?
Updated
BTC 12H chart on the left, monthly chart on the right
The price action of the monthly chart, the September candle body closing under big figure number 20000, that means the downsides momentum will keep going.
The bearish momentum continues, and the FOMC continues to raise interest rates, and there is a chance to see 10000~12500 in the future.
The 12H chart shows a lower low structure, unless the price action can form a small double bottom at point B that will have a chance to reverse.
But the structure of point B has been broken, the potential AB=CD pattern may be formed, and the target we can aim at 16000.
The above is sheerly a personal analysis, only for reference.
Please make sure your per trade risk 1~3%
The price action of the monthly chart, the September candle body closing under big figure number 20000, that means the downsides momentum will keep going.
The bearish momentum continues, and the FOMC continues to raise interest rates, and there is a chance to see 10000~12500 in the future.
The 12H chart shows a lower low structure, unless the price action can form a small double bottom at point B that will have a chance to reverse.
But the structure of point B has been broken, the potential AB=CD pattern may be formed, and the target we can aim at 16000.
The above is sheerly a personal analysis, only for reference.
Please make sure your per trade risk 1~3%
Trade closed: target reached
AB=CD ,got hit
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