Hello fellow traders,
This is a long term analysis.
In my analysis you can see
-downtrend line (red dots)
-inverse head and shoulders pattern
-uptrend line (green line )
I believe that there are two very important zones to take into consideration when thinking about going long on BTC.
As you can see on my analysis there is a light red zone which is the first zone that BTC has to break to have further upward movement.
This zone is being formed from the downtrend line which is the main resistance line BTC faces since the 20,000$ price.
The next zone is the darker red which is being formed from the neckline (red line) which we took from the inverse head ad shoulders pattern.
I believe that if BTC breaks these two zones then it will go to previous highs.
Position taking depends on your risk aversion. ( I will take position if BTC breaks the downtrend line)
I wish profitable trades to everyone!!!
This is a long term analysis.
In my analysis you can see
-downtrend line (red dots)
-inverse head and shoulders pattern
-uptrend line (green line )
I believe that there are two very important zones to take into consideration when thinking about going long on BTC.
As you can see on my analysis there is a light red zone which is the first zone that BTC has to break to have further upward movement.
This zone is being formed from the downtrend line which is the main resistance line BTC faces since the 20,000$ price.
The next zone is the darker red which is being formed from the neckline (red line) which we took from the inverse head ad shoulders pattern.
I believe that if BTC breaks these two zones then it will go to previous highs.
Position taking depends on your risk aversion. ( I will take position if BTC breaks the downtrend line)
I wish profitable trades to everyone!!!