BTCUSD
BTCUSD
BTCUSD
Chart break down..
WE are at..
1.Fibonacci S2 support
2.Falling wedge
3.Entered the PRZ(potential reversal zone) of the Bullish BAT
4.Constantly being rejected by the ichimoku kumo and the resistance doowntrendline
5.Touch n bounce from the median like of the pitchfork
Indications for a likely uptrend uptrend
1.Bullish bat formation with price in the PRZ
2.Bullish divergence in the daily chart
3.Price magnet theory of the pitchfork, where the median line touch to reflect the price to the outer median line of the pitchfork
Points of confirmation of reversal up..
1.Bullish divergence? 2.PRZ breakout? 3.Falling wedge breakout? 4.Any other breakout patterns which may form? 5.Breakout to be confirmed by High volumes and persistent Change in Momentum Direction of On balance Volume 6.Breakout of the Ichimoku Kumo from the prz
Points for failure of structure..
1.BAT PRZ limit broken with confirmed break pattern with volumes
2.Falling wedge continues beyond the Median line of the Pitchfork
3.Price magnet/Price failure theory of pitchforks
5.The weekly S2 support broken
6. Persistent resistance from the Red Kumo even in the PRZ and beyond
Disclaimer...Not an investing/trading advice....