TiborVrbovsky

Bitcoin in Daily Continuation Pattern.

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
The price of Bitcoin has formed a flag continuation pattern on the daily time frame.

This pattern is ready to move to the downside as the 20 EMA was tested, meaning it has performed the oversold bounce successfully.

Alternatively, the price could be printing a descending triangle pattern with the same bias to break to the downside.

A break below $30000 will confirm bearish outlook.

Support levels.

$28000
$26000
$24000
$22500
$20000

Indicators doesn't show any bullish signals.

I look to buy Bitcoin at these bespoke levels, meaning I am buying this dip below $30000.

Not a financial advice though! Good luck.

Comments

It's a falling wedge, highly probable we see an uptrend
+2 Reply
@Pearl-A, I've seen many wedges and believe me, this ain't one.
Reply
@Pearl-A okay let's wait and see
+1 Reply
Scenario that nobody wants to talk about, but it is probable.
Reply
Agree.
Thanks for sharing this.
Reply