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Afternoon ladies and gentlemen 👋😃
I want to draw your attention to a very strong💪 pattern on the weekly chart of bitcoin!
We are currently seeing a price decline📉, but at the same time, the lower values on the relative strength indicator are rising📈...
In technical analysis, this pattern is called convergence🧐. It has a very high rate of development on medium timeframes and on the weekly timeframe we see this situation very rarely.
This can lead to a strong shot of the price up💣💣💣.
We do not know where exactly the start will be, but the lower the price goes, the stronger the impulse will be🚀
P.S
I do not adhere to a time frame in my analysis of the instrument, a reaction in the instrument may occur earlier or later. It is important to understand the price movement when reacting to the level, as well as the buyer and seller reactions. Well, and a few more secrets, this material is not a trading recommendation )))
Afternoon ladies and gentlemen 👋😃
I want to draw your attention to a very strong💪 pattern on the weekly chart of bitcoin!
We are currently seeing a price decline📉, but at the same time, the lower values on the relative strength indicator are rising📈...
In technical analysis, this pattern is called convergence🧐. It has a very high rate of development on medium timeframes and on the weekly timeframe we see this situation very rarely.
This can lead to a strong shot of the price up💣💣💣.
We do not know where exactly the start will be, but the lower the price goes, the stronger the impulse will be🚀
P.S
I do not adhere to a time frame in my analysis of the instrument, a reaction in the instrument may occur earlier or later. It is important to understand the price movement when reacting to the level, as well as the buyer and seller reactions. Well, and a few more secrets, this material is not a trading recommendation )))
Trade closed: target reached
