Bitcoin (BTC): Weekly Head & Shoulders Pattern
Our gameplan on the weekly timeframe remains the same, and we’re still hovering around the resistance zone after several tests.
As the price starts to pull away from this zone and sellers gradually take control, we’re now setting our eyes on the 40K neckline zone. Ideally, this move would bring the RSI into the oversold territory, creating a potential buying opportunity that could push the price towards 50K.
This gameplan will continue to be our guide over the next few months as we monitor how the market behaves.
Swallow Team
As the price starts to pull away from this zone and sellers gradually take control, we’re now setting our eyes on the 40K neckline zone. Ideally, this move would bring the RSI into the oversold territory, creating a potential buying opportunity that could push the price towards 50K.
This gameplan will continue to be our guide over the next few months as we monitor how the market behaves.
Swallow Team
Note
Bitcoin has secured nicely those EMAs on a daily timeframe where we had quite a fight going on for the last week.
With a strong rejection from that level, we’re now seeing a smaller recovery today with the weekly opening, which is expected given the minor selloff over the weekend.
We are now looking and waiting for the price to reach that 50K zone, which is the last zone where the where the price had some kind of bounce.
Note
The price of Bitcoin has reached our upper, smaller resistance zone, where so far we are seeing a good rejection.
This zone right here is the key zone for us, as if we fail to hold it right now we will form a full crossover on RSI and there will be a possibility of testing EMAs and even breaking them as well so eyes on the current zone!
Note
Bitcoin has found it's upper resistance zone, it seems, where prices got rejected and sellers took over the zone.
As our small correction to upper zones seems to be finished now, we are looking to see that sellers will take over 2 next candlesticks.
If all plays out nice as we planned here, we should see a good, sharp move to test Agani in that 50K zone.
Note
Bitcoin showed us a little rejection yesterday, where today we are again in bullish momentum.
While price seems to have a pretty good recovery, we are not entering the zone of chaos, which is a zone around 200 EMA.
We are expecting to see yet another rejection from here to happen so we are keeping an eye on a possible quick liquidity movement to upper zones and then sharp downward movement.
Until then, we wait for further confirmations, so eyes on 200EMA now!
Note
Another day and we see that price is showing some kind of weakness where pressure from buyers has been suppressed.
As we are still below the major EMAs here, we still see lower zones to be touched here, so all we need now is to see some kind of weakness to kick in below EMAs where sellers would also secure a zone near the current market price!
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🚨 Authentic Mentoring
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FREE: t.me/+fiEDSn7M9pJkODA0
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FREE: t.me/+fiEDSn7M9pJkODA0
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