VincePrince
Long

BTCUSD - THIS PATTERN COULD LEAD BITCOIN TO NEW ATH

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
__________________________________________________________________________________________________________________________________________________________________
Hello traders investors and community, as BTCUSD shows some good bullish momentum and volatility I made an interesting observation which I share with you today.
__________________________________________________________________________________________________________________________________________________________________
In the last bull run, BTCUSD formed an inverted head and shoulders with a confirmation on the support level of the head. You can see it in my chart marked with the green box.
Normally the target of this pattern is the percentage length from the top of the head to the neckline, BTCUSD made double of this length projected from the head to the top of bitcoins bull run.
__________________________________________________________________________________________________________________________________________________________________
When looking on the daily chart , BTCUSD could exactly form this inverted head and shoulders in big format as seen in my chart, with confirmation above the last top at 13800.
We have strong support between 7900 and 8000, when we visit this area again it is highly possible that we test it as support again, the same as BTCUSD bounced several times in the 10000 area.
__________________________________________________________________________________________________________________________________________________________________
This pattern can be taken into consideration when BTCUSD comes back to the support area and establishes to hold the 7900 - 8000 range as support and form bullish momentum.
When the pattern confirms and makes a clear confirmation above the top of the last bull run, the target between 24000 and 25500 will be intact, that would be a new all-time high for BTCUSD .
__________________________________________________________________________________________________________________________________________________________________
For this scenario, it is important to hold the 7900 to 8000 range as support otherwise when we fall under this level new lows could be possible.
A look at price action in the range should be taken into consideration before making any decision.
__________________________________________________________________________________________________________________________________________________________________
Thanks for watching! May you have a good day and of course all trades going well! For more market insight feel free to support!
The information provided is for educational purposes only and should not be used to take action in markets.
__________________________________________________________________________________________________________________________________________________________________
Comment:
Comment:
Comment:
✔ Telegram: https://t.me/vinceprince_channel

✔ Instagram: https://www.instagram.com/vince_prince_official/

✔ Twitter: https://twitter.com/VincePrince244

✔ Join The Elite: @Vince_Prince

✔ "The key to success is to focus on goals, not obstacles."

Comments

Impossible charting
+1 Reply
@podhor, How do you mean?
Reply
Nice analysis. 9400 resistance will be a critical level
+1 Reply
VincePrince V0ld3mar
@V0ld3mar, Thank you
Reply
Thank you for the information sharing.
+1 Reply
VincePrince Grey_trader
@Grey_trader, Thanks a lot, all the best.
Reply
Update?
+1 Reply
VincePrince bloodgood
@bloodgood, Which timeframe? Made the update regarding shorter and longer timeframe.
Reply
Nice. Let’s hope we do reach a new high haha
+1 Reply
VincePrince Bitcoin_Trader_2019
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out