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#BTC UPDATE
BTC is forming this bullish pennant pattern
what is bullish pennant pattern
A bullish pennant is a technical trading pattern that indicates the impending continuation of a strong upward price move. They're formed when a market makes an extensive move higher, then pauses and consolidates between converging support and resistance lines.
*BTC Need to Clear the 29,500 Resistance to Confirm the bullish pennant pattern Breakout
* RSI is also sowing some bullish divergences move
*If it conform this pattern then according to the pattern we will see good bounce
Stay tuned I will keep updating
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Note
On the 4H TF, BTC is moving in a symmetrical triangle. It is currently trying to escape the symmetrical triangle.
A bullish advance will be confirmed by a strong breakout of the symmetrical triangle; otherwise, the price will continue to consolidate inside the triangle.
Note
#BTC UPDATE
BTC breakout this symmetrical triangle on 4H TF. Currently retesting it.
If it retests successfully then we can expect a good move according to the pattern, while in case it fails to retest, it will further consolidate inside the triangle.
Note
#BTC UPDATE
BTC did a fake breakout of the symmetrical triangle Pattern. Currently, it’s still trending inside this symmetrical triangle.
Now we need a breakout or breakdown of this pattern to confirm the next move of BTC if it did a breakdown then the next support is around $27500.
Note
#BTC UPDATE
As I told you in the last update. If it breaks down this pattern it will move towards the 27500$ level.
Let’s see if it will be able to hold this level or not.
Note
Bulls successfully defended the 27.3k Crucial Support as #BTC continued to trade inside the bounds of the ascending broadening wedge.
There's a good chance that Bitcoin will experience a 20% bullish rally if it can hold its position above this support level and bounce back.
Note
#BTC
The head and shoulders pattern is broken down by BTC, which is retesting below it right now. After clearing liquidity below $26,000, it had a decent volume comeback off the MA 200 support.
A reclaim of the horizontal resistance would indicate a resurgence of bullish momentum, while a successful retest below the head and shoulders would indicate a move downward towards the horizontal support.
Note
#BTC
BTC is still Below the neckline, With respectable volume, it jumped off the MA 200. In the market, the total volume is really low.
The head and shoulders pattern needs to be disproved by the bulls reclaiming the horizontal resistance in order to establish a bullish trend. Indicators of a bearish move in the direction of the horizontal support would include a successful retest.
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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.
Register on Blofin and trade with me: bit.ly/Mojo1000
Free TG Daily Futures Signals: bit.ly/CRYPTOMOJO_TA-TG
Free TG Daily Futures Signals: bit.ly/CRYPTOMOJO_TA-TG
Related publications
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.