Bitcoin SV Symmetrical TriangleBitcoin SV has formed a large symmetrical triangle that I previously overlooked, with multiple successful descending scallops, a break from this symmetrical triangle could turn this very bullish.
Bitcoinsvethereum
Bitcoin SV Strong regression trend0.91 regression downtrend on the 4hr chart, smaller time frames can be less reliable with regression analysis, in which i refrain from doing this often, however this is a strong trend. Red fractal indicates following of the trend and a small downward move to the 0 fib line.
There is a trading opportunity to buy in BitcoinSV / EthereumTechnical analysis:
. BitcoinSV/Ethereum is in a down trend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 32.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.51060000 to 0.44390000). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.51060000)
Ending of entry zone (0.44390000)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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Take Profits:
TP1= @ 0.61030000
TP2= @ 0.68240000
TP3= @ 0.73080000
TP4= @ 0.78770000
TP5= @ 0.85980000
TP6= @ 0.95940000
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