BTC very interesting patterns!
Hello, I am back with an idea on BTCUSDT pair 2h time frame. Recently, I have been keeping a strong eye on BTC, as alts are mostly hurt and some of them are finding it hard to recover. Last time I shared the idea, we hit our target on BTC. I got two scenarios to mention, both connected with each other:
FIRST SCENARIO:
As you can see, it has formed a bearish flag at broke out of it. It tells us that we will continue the bear scenario for a while possibly. Even the RSI tells us we keep forming LH as RSI gets higher but it does not have a bullish momentum and power.
SECOND SCENARIO- We broke out and we see there a bullish pattern forming after the breakout. When I drew the RSI lines, i saw this pattern form with the movement of BTC. We may see another drop very soon but it seems as everything won't last long and we probably become bullish very soon, in the wedge pattern formed there. As long as we don't break under 26-28k, BTC will soon become very bullish.
If we get to stay above 35k, we may see it again try for 40-42k, however it does not help us a lot in the mid term. But it can be profitable if we manage to consolidate in the 35k. But keep an eye on the two scenarios, as things will get very nice in a week or two from now. Trade with patience and time your entries. Good profits can be made even in bear momentums. Hope you enjoy my idea. If you have any comment, you are welcome to share it. :)
FIRST SCENARIO:
As you can see, it has formed a bearish flag at broke out of it. It tells us that we will continue the bear scenario for a while possibly. Even the RSI tells us we keep forming LH as RSI gets higher but it does not have a bullish momentum and power.
SECOND SCENARIO- We broke out and we see there a bullish pattern forming after the breakout. When I drew the RSI lines, i saw this pattern form with the movement of BTC. We may see another drop very soon but it seems as everything won't last long and we probably become bullish very soon, in the wedge pattern formed there. As long as we don't break under 26-28k, BTC will soon become very bullish.
If we get to stay above 35k, we may see it again try for 40-42k, however it does not help us a lot in the mid term. But it can be profitable if we manage to consolidate in the 35k. But keep an eye on the two scenarios, as things will get very nice in a week or two from now. Trade with patience and time your entries. Good profits can be made even in bear momentums. Hope you enjoy my idea. If you have any comment, you are welcome to share it. :)
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