BTC analysis

Updated

XBTUSD

Note

Day chart.
The current BTC price action is forming bearish flag which will lead us to double bottom.
There is enough RSI room for downward.

Note

My mistake. The target is around 6760.

snapshot

Note

RSI sideway movement at the crucial level.
BTC is going to make a direction.

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Trade active

Breakdown.
Small rebound expected at marked price level zone.

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Target update :
The red line could be pierced.
5850~6200 is target for bearish flag.

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Then the target of the head and shoulder pattern is around 1850.
Time frame of the chart below is weekly.

Bear. Towards. Capitulation(BTC) $1800.

Note

We also can see inverted Cup and Handle pattern.
In this case, the target is around 3550.

snapshot

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Temporary target reached.
Going down again after recovering RSI

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Short term target : around 8500

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RED : HEAD AND SHOULDER (target : around 4300~4400)
YELLOW : BEARISH FLAG (target : around 6200~6300)

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Expecting price action like this

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Huge drop from 8500 to 4000 for 10 days(29th March)

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Trendline of RSI has been broken.

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