BTC is forming big reversal pattern
Updated
Hello,
As I wrote before, BTC is forming reversal pattern and everybody can see inverted H&S and double bottom which are strong bullish signals. So, the main question where to enter market for not being FOMOer?
I hope BTC will retest previous block level (it loves retest levels and follows them very often) at ~7500-7600 as well as 4H 50MA. I would buy there and wait patiently for the end of consolidation. I expect it could happened to the end of Jan / beggining of Feb. Not sure we will fly just now but everything is possible on the market. We have just took notice that 0,5B USDT pumped into the market which is 10,8% one-time growth.
Good luck with your trades and investments.
As I wrote before, BTC is forming reversal pattern and everybody can see inverted H&S and double bottom which are strong bullish signals. So, the main question where to enter market for not being FOMOer?
I hope BTC will retest previous block level (it loves retest levels and follows them very often) at ~7500-7600 as well as 4H 50MA. I would buy there and wait patiently for the end of consolidation. I expect it could happened to the end of Jan / beggining of Feb. Not sure we will fly just now but everything is possible on the market. We have just took notice that 0,5B USDT pumped into the market which is 10,8% one-time growth.
Good luck with your trades and investments.
Trade active
Fib 0.236 didn't touched. Strong bounce with volume. It's possible we won't see 7530-7620 retrace level. Bulls are strong and hungry. If you don't have spot probably there will be wise decision to buy now. We can go to 9261 with 8172 retrace or even higher.Note
Bullish scenario if we reversed.Trade active
Possible scenarios shows that we can take breath at 12300 with retrace to 8700.Trade closed manually
The pattern is almost broken. CME smelled "blood". I would exit at 9550-9600 from BTC.
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.