vikinsa

BitCoin (BTCUSD) Bearish W Pattern (FCP ) Is Forming

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Traders, Whilst most bitcoin bull must be treating yesterdays' price action as "Return To Normal" phase, this may be a great opportunity for bears. Although the head and shoulders pattern did not work out, there is a great Fibonacci Confluence Pattern ( FCP ) W pattern is evolving. Here are important FCP Zones that I am watching.
If these zones are broken, then they will act as support. So you have opportunities on both sides.

Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Neve rely on signals, do your own analysis and research too

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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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Comments

It is nicely falling as DXY is moving up :)

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I also agree for a bullish movement before the bearish one starts. on point!
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I like this idea
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Vik your analysis are remarkable though not trading BITCOIN. Thanks
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