HELLO TRADERS
"So in my recent analysis of btcusd I mentioned long opportunity and price actually went towards our direction for more than 700 pips"
Currently we have different situation as per structure development is looking strong bearish. But before maintaining more bearish momentum I am looking for diagonal pattern before Fall.
What makes me think of Bearish market in BTC ?
Well as you can see in my previous setup I mentioned that price was ranging in between Symmetrical triangle and which was reversal structure because of the area was closer to Support. After breakout of structure price has to correct in continuation way in order to maintain more bullish momentum but it was failed and rejected with strong bearish impulse and closed below support which is currently its resistance. But still there is a possibility that price will make double top or diagonal pattern before falling again because price action are now very choppy. So we can get great opportunity in short term buying and then selling in this pair.
4H Chart :
"Previous Setup"
"So in my recent analysis of btcusd I mentioned long opportunity and price actually went towards our direction for more than 700 pips"
Currently we have different situation as per structure development is looking strong bearish. But before maintaining more bearish momentum I am looking for diagonal pattern before Fall.
What makes me think of Bearish market in BTC ?
Well as you can see in my previous setup I mentioned that price was ranging in between Symmetrical triangle and which was reversal structure because of the area was closer to Support. After breakout of structure price has to correct in continuation way in order to maintain more bullish momentum but it was failed and rejected with strong bearish impulse and closed below support which is currently its resistance. But still there is a possibility that price will make double top or diagonal pattern before falling again because price action are now very choppy. So we can get great opportunity in short term buying and then selling in this pair.
4H Chart :
"Previous Setup"
Investment and structure planning :
DM
DM