BITCOIN - FALL TO $35K AND RISE TO $58K OR FALL TO $30K AND $20K
Right here is my idea on Bitcoin. As we all know we have an head and shoulder pattern on this chart which predicts a fall and an inverse head and shoulder pattern on this same chart which predicts a bullish trend.
So for the head and shoulder pattern to work, price will hit the yellow resistance line at $41,400-$42,00 and if it rejects, it will fall back to the neckline at $30,000 and may eventually fall more to $20,000.
Also, for the inverse head and shoulder pattern to hold, I expect price to first go up to the supply zone at $43,000. If price rejects the zone, then I expect price to fall to $35,000 to form the right shoulder, then long to $58,000.
Therefore we have two likely moves here. Either price fall to $35,000 and rise again to $58,000 or price fall to $30,000 and continue to fall to $20,000.
What do you think?
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Thank you for your support!💓
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So for the head and shoulder pattern to work, price will hit the yellow resistance line at $41,400-$42,00 and if it rejects, it will fall back to the neckline at $30,000 and may eventually fall more to $20,000.
Also, for the inverse head and shoulder pattern to hold, I expect price to first go up to the supply zone at $43,000. If price rejects the zone, then I expect price to fall to $35,000 to form the right shoulder, then long to $58,000.
Therefore we have two likely moves here. Either price fall to $35,000 and rise again to $58,000 or price fall to $30,000 and continue to fall to $20,000.
What do you think?
Share your opinion in the comment section✍️
Please support this idea with a LIKE👍 if you find it useful🥳
Follow me to receive more updates on this pair🤙
Happy Trading💰🥳🤗
Trading Involves High Risk⚠️
Not Financial Advice💸
Use Proper Risk Management💹
Thank you for your support!💓
NB: If you would like to have one-on-one interaction with me about analysis of coins or currency, DM me.