Diamond
BTC - The Big Picture - Diamond Pattern EQ as the Diamond found Res at the sub channel .65. The inverse neckline is not really apparent, therefore a potential Higher Low is in play. Diamond Patterns can serve as reversal or continuation patterns making price action key into the support and resistance lines.
Bitcoin Ready for a BounceBitcoin has just formed a diamond bottom and broken out of it. It has also made a bullish divergence on the 1h timeframe. It bounced very nicely off the 0.618 fib retracement level at 46.4k. With all of these things in mind, I think it is ready for a bounce to 48k minimum and will possibly march on to make higher highs
2$ is best price to buy2$ is best price to buy. If you don't fear when price down to 2$ you can buy now 2.45 $ and hold. We can have big profit when price go to 10$. Price can go to 15 - 18 $ but 10$ is reality target.
DIP ON STEALThis one will be a complete technical analysis.
Starting point ->>> support lines 73.50$
- 72.64$ Stopploss
- 75.40$ 1. Target
- 81.05$ 2. Target
Buying reasons
-2 support lines 74.17$+73.50$
-daily: RSI oversold (30 area) + MACD tendencies for a countermovement
Selling points
-weekly+monthly MACD indicates sell down
-weekly+ monthly RSI indicates selldown
-under the SMAs (except for 400)
The violet line shows the general uptrend from 2020 to March where we have a break-out (bearish). This shows us that it is unlikely to get ATH. Therefore, I wrote some easier achievable goals.
So, first target has a risk reward ratio of 3.11 with +3.8% upside. Second has risk reward ratio of 8.6 with +10% upside, both with a 1.2% stoploss. The stopploss is based on a Fibonacci retracement.