TradingView
Chibuike_Odoh
Apr 10, 2021 8:13 AM

BTCUSDT (BITCOIN) - BULLISH SETUP  Long

Bitcoin / TetherUSBinance

Description

ANALYSIS 🔎
- BTCUSDT corrected as expected from my previous analysis.
- Price retested the ascending channel support, ascending triangle support, horizontal support level and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There was a successful bounce off the retest zone.
- Price action printed the inverse head and shoulders pattern.
- Price brokeout above the inverse head and shoulders neckline resistance.
- This is a bullish signal.
- Price is yet to breakout above the ascending triangle's horizontal resistance (ATH).

BUY ENTRY ⬆️
- Aggressive entry : current market price (CMP).
- Conservative entry : breakout above the ascending triangle's horizontal resistance (ATH).

TARGETS 🎯
- Fibonacci extension levels.
- Ascending channel resistance.

SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
Comments
binman20
Nice
EMMAZILLA
Great forecast
Chibuike_Odoh
alitrendhunter
very nice thank you⭐👌
Chibuike_Odoh
annie_fox_expert
Nice
Chibuike_Odoh
BitonGroup
Nice job
Chibuike_Odoh
@BitonGroup thanks mate
More