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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🔥 Unlock Lifetime Access to the Premium Trading Group – Just $129 for a lifetime membership!
🎖Telegram:
t.me/MBM_786kr 🎖
📩 Interested in our Premium Group?
DM @MBM786kr on telegram for full details!
🎖Telegram:
t.me/MBM_786kr 🎖
📩 Interested in our Premium Group?
DM @MBM786kr on telegram for full details!
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.