Apart from what the leading experts says or what the news says, I am watching BTC to hit $3750 from here insha Allah.
After applying different methods on this triangle more indications are favoring the view "The bears have persistently failed to keep prices below $3,500".
The leading crypto currency showing a bearish move today after a long period of sideways move but I am not observing a sufficient volume to breakdown the pennant.
Moreover if we see the volume profile's fixed range taking the complete pennant in its range then what we see is "the trading interest is decreased at this area".
A long tailed candle also indicates the bear exhaustion.
And the most favorit part of this chart is I also found a completion of gartley harmonic pattern which strengthens the bulls power here.
If the leading crypto currency breakdown this pennant then we can see the dec lows as a new firm support which will be $3215.
We can also see here that a new pivot support is created at $2710.
The over all view is: indications are more in favor of bulls rather than bears but Allah knows the best.
Regards,
Atif Akbar (moon333)
After applying different methods on this triangle more indications are favoring the view "The bears have persistently failed to keep prices below $3,500".
The leading crypto currency showing a bearish move today after a long period of sideways move but I am not observing a sufficient volume to breakdown the pennant.
Moreover if we see the volume profile's fixed range taking the complete pennant in its range then what we see is "the trading interest is decreased at this area".
A long tailed candle also indicates the bear exhaustion.
And the most favorit part of this chart is I also found a completion of gartley harmonic pattern which strengthens the bulls power here.
If the leading crypto currency breakdown this pennant then we can see the dec lows as a new firm support which will be $3215.
We can also see here that a new pivot support is created at $2710.
The over all view is: indications are more in favor of bulls rather than bears but Allah knows the best.
Regards,
Atif Akbar (moon333)
Comment:
By the grace of Allah the most high and the only one GOD this idea generated more than 8 percent sofar
Trade active:
It seems that the gartley is still in play and BTC is going above 4000 soon insha Allah
on 12 hr chart the ichimoku cloud has given weak bullish signal and getting strong
The lagging span has crossed up the price line.
The conversion line of ichimoku has crossed up the base line.
The cloud is reversed.
The stochastic RSI has given the aggressive crossover after touching the oversold zone.
The ADX is almost at 30.
The +D1 of directional movement has crossed over the -D1 and moving up.
I think the same indications will be reflected on day chart soon insha Allah.
on 12 hr chart the ichimoku cloud has given weak bullish signal and getting strong
The lagging span has crossed up the price line.
The conversion line of ichimoku has crossed up the base line.
The cloud is reversed.
The stochastic RSI has given the aggressive crossover after touching the oversold zone.
The ADX is almost at 30.
The +D1 of directional movement has crossed over the -D1 and moving up.
I think the same indications will be reflected on day chart soon insha Allah.
Trade closed: target reached