price is moving in range try to form an inverse H&S (bullish pattern).
based on this action we can expect the key support area (between 1840$ and 1800$) retest before another upward pressure.
all indicators on daily and higher timeframes show bullish signs and I don't see any excuse price drop below my baseline unless a liquidity trap.
at the moment we may see more range move however price can close above neckline around 1920$ and go upward with no significant correction.
so if the price closed above our neckline we can expect more upward pressure at this scenario our target would be above 2050$. (on the chart)
Enjoy the market
based on this action we can expect the key support area (between 1840$ and 1800$) retest before another upward pressure.
all indicators on daily and higher timeframes show bullish signs and I don't see any excuse price drop below my baseline unless a liquidity trap.
at the moment we may see more range move however price can close above neckline around 1920$ and go upward with no significant correction.
so if the price closed above our neckline we can expect more upward pressure at this scenario our target would be above 2050$. (on the chart)
Enjoy the market
Trade active
price touched my key support area and still this area is important to hold the price. let's seeTrade closed: target reached
my key support area tested properly, still price can move into this area depends on BTC next move however this area must hold up the price for next bull trend wave. lets seeTrade active
more consolidation still may keep on but closing above the neckline means more upward pressure.Trade active
closing above the neckline
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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.