In my previous Bitcoin analysis we saw price form a head and shoulder pattern on the daily TF which gave us good short opportunities. I also was looking at price going down as low as $37k provided it broke the current demand zone. So as you can see currently price has broken the shoulder line of the Head & shoulder pattern but has failed to break the Current demand zone 3 times if you look on the 1HR TF. We also see price forming a double bottom reversal pattern as a bullish tweezers candlestick pattern on the 1HR TF.
I currently have a long position at the 50% of the bullish tweezers. I am taking a risk on this trade based on my analysis. What do you think? Could this be the bottom or is $37k a better bottom?
I currently have a long position at the 50% of the bullish tweezers. I am taking a risk on this trade based on my analysis. What do you think? Could this be the bottom or is $37k a better bottom?