On my previous TA I made the mistake of using the 15min and not the 4hr as well as not zooming out to see the bigger picture (a humbling learning experience). To the point, there will be more sideways price actions/BARTs until the volatility (BB) and price range (lower highs & lower lows) are squeezed to a point where there will be the usual massive price action...
If this does not break above around the 3,640ish then this huge bear pennant will most likely be confirmed. My target based on my fib is 3,1k (also that seems to be the consensus around here that 3,1k is the target).
Seeing how there’s a direct correlation between the price of XRP to the price of Bitcoin, on the 3HR there’s a likely possibility of Bitcoin forming a long term Inverse Head & Shoulders. I placed the buy zone where the tip of the right shoulder could possibly land.
After that dump, then dead cat bounce (price retraced back to the 50%) the new resistance level has been created. The price will most likely steadily go up trend until it meets that resistance. 2 possibilities: - If it manages to break through the zone of confluence then expect an attempt for the support to be built at that price range - If it gets rejected at...
Expect a retest at 3.6k if current resistance breaks. RIP to those that did x100 shorts.
Remember to always set your stop losses and invest in what you can afford. Don't get Bitconnected.
"The Double Bottom Reversal is a bullish reversal pattern typically found on bar charts, line charts, and candlestick charts. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between." I am not confident enough to say play this long, if BTC ever reaches to the strong zone of...
Let's see where this takes us, it looks like they're trying to build a support within the zone. Good luck