Btcoinsignal
BTCUSDT SHORT FLAG PATTERN Here are few points i am looking for this trade
1.Btcoin showing us clear fake out signal (after a Strong break out and closed back down)
2.Break though up trend swing high and start to become new resistant
3.FLag pattern is formed and consolidtae show us weakness (below 0.328 FIb and holding that resistant )
4.We need to see strong momentum bear bar break down and showing us selling is really taking control (Entry break down bar )
5. Great risk and reward (After a crazy up trend )
6.Target Measure the length of the Complete flag pattern (include the breakout bar )times 2 or 3 as you want
BTCOIN rally destroyed by FEDHey tradomaniacs,
yesterdays FED-Statement dissapointed the Market since it priced in a step back by the FED with a possible statement about lowering upcoming rate-hikes aswell as the speed by Jerome Powell to fight inflation.
The worse the economy gets the more pressure is on Powell & Co to re-allocate the current circumstances.
However, Jerome was clearly Hawkish and has made clear its not time yet to think about it... This could cause a mid-term sell-off as the next steps will be discussed in December. YIELDS and so the US-Dollar pumped hard cuasing more risk-off in the market.
Technically we have a good short opportunity here.
What do you think?
Bitcoin- The pressure remains strongly to the down sideAfter reaching the 30k figure, as was normal, BtcUsd has had a rebound. However, this rebound was short-lived and the price is near 30k again at the time of writing.
Yesterday's candle has a long wick to the upside and it looks like today's candle will not be different. This can mean strong selling pressure and could lead to a break under 30k.
Supports come into place 2 from 2k, at 28 and 26 with important congestion support at 24k.
Short-term traders can target this 24k for their sell trades with negation above 33k.
BTC/USDTBTC UPDATE
I do day trading so I just take the advantage of market movement this analysis is good for a short term of a day not more
Before looking at this post you have t check my previous post about BTC
Now BTC in H1 it's in this pattern
I draw you a red line above 45.500, it's been a long time since bitcoin could not break this resistance
let us see what will happen next. keep eye on the lines I draw
This is not financial advice it's just my personal opinion
DO NOT FORGET TO USE STOP LOSS
CAN WE BREAK THE RESISTANCE? WRITE ME YOUR OPINION IN THE COMMENTS