It's been a long time and as we all know market has been behaving irrationally, with series of FUDs here and there. It's imperative to believe major storms is coming on Bitcoin. Let quickly look into it together in term of chart analysis.
On daily timeframe, bearish HS was identified with a neckline holding seriously firm as resistance since the price currently trading below it, the target of the pattern will complete immediate correction target around $23,700 where wave A of the immediate correction should be terminated.
Whereas weekly chart showcasing a clear price action towards the area zone on the chart as VERY STRONG RESISTANCE ZONE, this resulted in a major drop of price from 31k to where we are right now, although our expectation of price still remains drop continuation towards the area of the chart tagged as IMPORTANT DEMAND ZONE.
Furthermore, in Monthly chart, a potential bearish formation was observed, which is evening star, the April 15 high was directly testing the tail of candles formed in June 2021, which currently acting as a very firm resistance. Immediate level of support to watch for is $23000 and if this fail, we may have BTC testing 20k zone again.
On daily timeframe, bearish HS was identified with a neckline holding seriously firm as resistance since the price currently trading below it, the target of the pattern will complete immediate correction target around $23,700 where wave A of the immediate correction should be terminated.
Whereas weekly chart showcasing a clear price action towards the area zone on the chart as VERY STRONG RESISTANCE ZONE, this resulted in a major drop of price from 31k to where we are right now, although our expectation of price still remains drop continuation towards the area of the chart tagged as IMPORTANT DEMAND ZONE.
Furthermore, in Monthly chart, a potential bearish formation was observed, which is evening star, the April 15 high was directly testing the tail of candles formed in June 2021, which currently acting as a very firm resistance. Immediate level of support to watch for is $23000 and if this fail, we may have BTC testing 20k zone again.
Trade active
Order cancelled:
Bitcoin gave a decent bounce after testing 24800 zone and the momentum was strong enough to break above our important resistance.
In view of this we decided to close this BEARISH idea as the move invalidated our earlier stated plans.
In view of this we decided to close this BEARISH idea as the move invalidated our earlier stated plans.
📍ATTENTION!
BEWARE OF FAKE CHANNEL & SCAMMER🎯
Official Channel: t.me/+m0IACMn0ul03OTFk ✅
REAL Weslad: t.me/WESLAD ✅
For premium Zone: t.me/wcsepayment ✅
@WESLAD WILL NOT SEND YOU MESSAGE FIRST. ❌
BEWARE OF FAKE CHANNEL & SCAMMER🎯
Official Channel: t.me/+m0IACMn0ul03OTFk ✅
REAL Weslad: t.me/WESLAD ✅
For premium Zone: t.me/wcsepayment ✅
@WESLAD WILL NOT SEND YOU MESSAGE FIRST. ❌