https://s3.tradingview.com/snapshots/k/kGgFp3k1.png
https://s3.tradingview.com/snapshots/t/tCh8unh2.png
https://s3.tradingview.com/snapshots/e/e7PMgheh.png
.so as we look at BTC we have been in a symmetrical Triangle pattern which ultimately
$BTC has Broken to the downside.
.right now we are retesting the resistance line so if we do not break throuhgh this
would be where we put our shorts in with a stop loss right above the top the line
above the inverse head and shoulders pattern.
.price target for this break down we could see as low as 24200 area with a scam wick
that can go as low as 18.9k i will be out the trade but the 24.2k area ready to buy the
scam wick in that scenario..
.so looking at the 2H chart on BTC and the 1H chart we have a inverse head and
shoulders playing out.
.if this pattern confirms then we are looking to see BTC move down to around $33k
area and to start pumping back up again. after that we want to see it break the
neckline around $35,800 level after that we will set a long position with a price target
of approximately $38,900 but if you want to be more conservative then $38,100.
.with that scenario playing out then we would be waiting for a test at the top of the
resistance for the symmetrical triangle to see for signs of a break out and a retest... if
it holds as support then our long price target for that would be $51,800.
i am not liable for any losses or gains you may or may not make this is just a idea of mine. do not take financial advice from random people on trading view.
https://s3.tradingview.com/snapshots/t/tCh8unh2.png
https://s3.tradingview.com/snapshots/e/e7PMgheh.png
.so as we look at BTC we have been in a symmetrical Triangle pattern which ultimately
$BTC has Broken to the downside.
.right now we are retesting the resistance line so if we do not break throuhgh this
would be where we put our shorts in with a stop loss right above the top the line
above the inverse head and shoulders pattern.
.price target for this break down we could see as low as 24200 area with a scam wick
that can go as low as 18.9k i will be out the trade but the 24.2k area ready to buy the
scam wick in that scenario..
.so looking at the 2H chart on BTC and the 1H chart we have a inverse head and
shoulders playing out.
.if this pattern confirms then we are looking to see BTC move down to around $33k
area and to start pumping back up again. after that we want to see it break the
neckline around $35,800 level after that we will set a long position with a price target
of approximately $38,900 but if you want to be more conservative then $38,100.
.with that scenario playing out then we would be waiting for a test at the top of the
resistance for the symmetrical triangle to see for signs of a break out and a retest... if
it holds as support then our long price target for that would be $51,800.
i am not liable for any losses or gains you may or may not make this is just a idea of mine. do not take financial advice from random people on trading view.
Comment:
PLEASE REFER TO THE LINKS AT THE TOP OF THIS POST TO SEE ALL 3 CHARTS..