Hello guys, in this updated of this technical analysis for Saturday, we see that Bitcoin is in the important zone to entry in short position and earn money with Bitcoin. Well, the price on entry is around of $9,170 USD, the SL is $9,250 USD and finally our target profit if $8,966 USD. I invest 0.04 BTC lots in my trading plattforms. Important to you is always analyze in H4 and entry in H1 timeframe, I dont recall for you to analyze H1 because H1 is not a stable timeframe to analyze, H4 for me is the best for analysis if you're swing trader o Day Trader. Also, I add a important message because I have an alert of updates of some chartist pattern in formation in weekly that you need to know.
Look in Daily, I mark this green zone because it's work as strong support, if you see, we are into the simetric triangle in general, that don't have any direction of the market, but that yes have is to make prepared in both worlds because Bitcoin could to break up or break down, but I have a evidence of that is respald for me to make prepare. Look this green zone, as Bitcoin was rejection 2 times, there are a possibl formation of any armonic pattern hiding of this technical analysis, also that is not a tripple bottom, but yes a possible formation of armonic pattern to follow in our trend. Now, there are a possibility that Bitcoin if make a rejection of $9,000 USD that mean that there are a buyers demand to broke up the descending channel, we can to entry in buy until the $9,650 USD as target profit, because Bitcoin need to complete this simetric triangle. Also, in the RSI there are a formation of lower low of this indicator, that mean a possible go back up the price.
And finally, in weekly this is the scenario that we are here, in this simetric triangle, also, this is not neccesary that Bitcoin go to broke down, but when we see this chartist pattern, that could be a possible bull continuation of above of $10,000 USD, if in case to broke up, in case that broke down, we can see another drop, and also, stock market is the mix of what Bitcoin do. That indicator is so important to know in our mind. But as reference, MACD show a possible sell zone and weakness of buyers, so possible bear are soon to drop the price.
Look in Daily, I mark this green zone because it's work as strong support, if you see, we are into the simetric triangle in general, that don't have any direction of the market, but that yes have is to make prepared in both worlds because Bitcoin could to break up or break down, but I have a evidence of that is respald for me to make prepare. Look this green zone, as Bitcoin was rejection 2 times, there are a possibl formation of any armonic pattern hiding of this technical analysis, also that is not a tripple bottom, but yes a possible formation of armonic pattern to follow in our trend. Now, there are a possibility that Bitcoin if make a rejection of $9,000 USD that mean that there are a buyers demand to broke up the descending channel, we can to entry in buy until the $9,650 USD as target profit, because Bitcoin need to complete this simetric triangle. Also, in the RSI there are a formation of lower low of this indicator, that mean a possible go back up the price.
And finally, in weekly this is the scenario that we are here, in this simetric triangle, also, this is not neccesary that Bitcoin go to broke down, but when we see this chartist pattern, that could be a possible bull continuation of above of $10,000 USD, if in case to broke up, in case that broke down, we can see another drop, and also, stock market is the mix of what Bitcoin do. That indicator is so important to know in our mind. But as reference, MACD show a possible sell zone and weakness of buyers, so possible bear are soon to drop the price.