BTC Update
Here's a quick Update on BTC 4 hr chart. As we can see, the price has been forming a bigger inverse head and shoulders , and the 62k has to break for confirmation. Also the price has been forming a bearish pattern on the smaller picture - an inverse cup and handle . The inverse cup and handle shows confluence with the CME gaps down at 58.7k and 54.3k. We might see a small pullback to 58.5k to close the gap and then continue higher or we may see a bigger pullback to 54.3k to close to the gap down there as well.
The bullish scenario is, if we break 62k, then a target of the bigger inverse shoulder will be in play - 68k!. Also keep in mind that the volume has been not so good for the past few weeks and that indicates a bigger move to come. There's definitely more volatility coming for BTC!
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
The bullish scenario is, if we break 62k, then a target of the bigger inverse shoulder will be in play - 68k!. Also keep in mind that the volume has been not so good for the past few weeks and that indicates a bigger move to come. There's definitely more volatility coming for BTC!
Follow me for daily profitable trading setups :)
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
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