BTCUSD Bearish pennant or reversal pattern? MACD, RSI are goodBTCUSD
Bearish Pennant vs Symmetrical Triangle. Who wins?
22,000 or 46,000?
MACD and RSI both look optimistic though.
Biteeu
BTCUSD Bearish pennant or reversal pattern? MACD, RSI are goodHello, all
Here is my personal view on BTCUSD market. We are still in bearish trend and are now forming a clear continuation pattern - bearish pennant. If it works as supposed too, we can see a drop to a next strong support zone, which is around 24,000.
On the other hand if this is a symmetrical triangle, then we can touch a 42,000 resistance level.
MACD on 1D looks good. RSI on 1D looks good and shows potential bullish trend.
I personally stay out of trading until I see a clear breakout.
Inverse H&S BTCUSD pair. We can see a 44,000 soonPreviously, I specified a clear double bottom and optimistic RSI and MACD indicators. Now I can (personally) see an inverse H&S formation on 1H - 4H. If it works, we can soon see 44,000 USD per BTC.
This is just my personal opinion and not an advice for trade.
BTCUSD - RSI, MACD and Double bottoms all show positive signsHello, all
First of all, please don't panic and sell. If you can read indicators and patterns, you could see that at 33,000 it was a strong support earlier this week. Now we see a clear double bottom formation 4H time frame.
RSI shows a positive sign too, for example at 4H you can clearly see a rise from oversold towards the middle of the trend
MACD is turning green on later time frames which is a good sign too.
I personally will keep buying the dip. If we can protect level 33,000-35,000 then we can expect a rise towards 42,000. If we fail, then 25,000 is imminent level with a very strong support and demand.
