2 Patterns possibly playing out.
Cup and handle - Currently at wave 4. We should expect a bounce in this current range - 39987 to 40206.
Bear flag / H&S - Will validate if price reaches below 39950.
Trade carefully
A break above 40621 will confirm a cup and handle breakout, however, shorters can overpower longs in the breakout or breakdown line. Long carefully.
A break below 39500 will validate the head and shoulders pattern and will open a short opportunity.
Hi traders!
Upon connecting all the trendlines, and getting 0.382 of wave 3, it all points to 44608 and should serve as a critical support before going to 49.8k. 🚀
This will all be supported by hidden bullish divergences from both RSI and MACD
It may also be better not to take profit at 49.8k, wait for the trend break and retest before doing so.
Hi traders!,
I hope your stop losses are placed! BTC seems to have hit a resistance @ 43.5k. Bearish double top has formed with a bearish RSI div and we have no confirmations if the upward trend will continue. We may also see it form another bullish inverse head and shoulder once it hits the bottom rising wedge trendline. Somewhere around 42.2k
Set your S/L once...
Hi traders,
BTC is now showing a clear trend. We can now see a rising wedge pattern, possibily a continuation rather than a bearish formation since we have broken out of the 1W Symmetrical Triangle (zoom out). Set your stops properly and good luck!
Inverse H&S inside Ascending triangle was confirmed after neckline break and pullback in 5m TF. Target has been reached.
We may now see an ascending triangle breakout in a few hours, entries are in the chart. I will not disregard the possibility of a quick dump.
Good luck traders!
Inverse H&S inside Ascending triangle was confirmed after neckline break and pullback in 5m TF. Target has been reached.
We may now see an ascending triangle breakout in a few hours, entries are in the chart. I will not disregard the possibility of a quick dump.
Good luck traders!
BTC needs to break 41676 in order to confirm inverse head and shoulder breakout.
Else, we might see bitcoin fall down to underside trendline, 39400 range.
