Hello all,
On the 30 min chart, If pattern completes and confirms a breakdown, we should be seeing 8.4-8.5K BTC in the short term. Completion of the pattern also completes and breaks down from the bear flag that seems to have formed in the right shoulder.
EMA 20 and EMA 50 are close to forming a death cross which would pull prices lower. After bouncing off the rising trend line which was great to see, we had a significant drop in volume which is very unusual following a strong bounce.
I am not trying to be bearish . I am holding BTC and hope we continue up but the above scenario remains quite likely. A correction maybe in order before we are to head higher.
Comments and likes always appreciated.
Good luck!
On the 30 min chart, If pattern completes and confirms a breakdown, we should be seeing 8.4-8.5K BTC in the short term. Completion of the pattern also completes and breaks down from the bear flag that seems to have formed in the right shoulder.
EMA 20 and EMA 50 are close to forming a death cross which would pull prices lower. After bouncing off the rising trend line which was great to see, we had a significant drop in volume which is very unusual following a strong bounce.
I am not trying to be bearish . I am holding BTC and hope we continue up but the above scenario remains quite likely. A correction maybe in order before we are to head higher.
Comments and likes always appreciated.
Good luck!
Trade closed: target reached:
Target was reached.