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TheSignalyst
Mar 18, 2023 11:30 AM

BTC - Inverse Head & Shoulders Activated 👌 

WHITEBIT:BTCUSDT1D
Bitcoin / Tether USWhiteBIT

Description

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Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

As per my last analysis, we know that BTC is still in an Accumulation in the shape of a potential inverse head and shoulders .

📉 As mentioned, for the the pattern to get activated, we need a break above the blue zone / neckline.

This week, BTC broke above the neckline, so now we are expecting a bullish movement till the next resistance around 30,000

📌30,000 is a strong round number, resistance and supply zone. So expect reaction there.

For the bulls to take over from a MACRO perspective, we need a break above 32,000

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
Trend AnalysisChart PatternsWave AnalysisBTCBitcoin (Cryptocurrency)blockchaincryptolongtermTECHpriceactiontradingviewContains image
Comments
CryptoMonstersOfficial
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Nice idea mate 💎✌

I think that those last 3 green long body candles were enhanced by news (american bank crisis), BTC can't be as strong as gold in any global crisis ❗

That's why I dont think that technical analysis perspective alone can help traders

No body can predict what is the next move, we could all be heading to a trap
TheSignalyst
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@CryptoRibai I totally agree dear Ribai. the market has been driven by fundamentals lately. and we are approaching the 30k resistance zone. so some reaction would be expected there
pejman_zwin
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Such a post.💪

My view

TheSignalyst
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@pejman_zwin nice one mate
FirstNameHelen
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Totally agree, thanks!
TheSignalyst
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@FirstNameHelen, perfect Helen
Setupsfx_
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Well done !
TheSignalyst
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@Setupsfx_ keep it up you too 🙏
MBM_Crypto
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Seem like the CME gap between 27.4k and 29k is going to get filled!
TheSignalyst
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@MJI786 yess
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