BITCOIN - UPSIDE PATTERNS DETECTED - See them here!
Hello dear traders,
You see here the chart of Bitcoin in 30 minutes timeframe for a better detail.
The price in the main head and shoulder formation in orange has been quite lower as expected. Also the neckline is perfectly re-tested but a decline remains out for now.
In Ethereum about the same situation but we now see a few notable bullish things in the charts.
1. Bitcoin has also formed a bullflag.
2. The price that does not want to go lower as of yet is showing strength. We are also seeing this in the volumes.
3. We now also see a reversed head shoulder formation in the Bullflag.
4. The upside targets for both the Bullflag and the reversed head shoulder formation are both pointing towards USD +40.000 USD as a first target! IF that target is reached higher ones will follow.
5. In my previous analysis of Bitcoin which you can see below, the target of that inverted HS formation is 40.822 USD and that is still perfectly valid. It is a first target because if Bitcoin will see that level if will rise more. That will be validated with new structures of course. Trade what you see and nothing more untill it gets clear in my opinion.
Of course, this Bullish scenario will ONLY be validated if there is a breakout from the bullflag with good volume. As in my earlier analysis of Bitcoin, it all points to higher prices.
I am creating another separate chart for the full purpose of the Bullflag. Note carefully that everything is valid only after an upward breakout.
Traders, please your comments so we can look at this situation from all sides!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like👍. That motivates me a lot to continue💚!
You see here the chart of Bitcoin in 30 minutes timeframe for a better detail.
The price in the main head and shoulder formation in orange has been quite lower as expected. Also the neckline is perfectly re-tested but a decline remains out for now.
In Ethereum about the same situation but we now see a few notable bullish things in the charts.
1. Bitcoin has also formed a bullflag.
2. The price that does not want to go lower as of yet is showing strength. We are also seeing this in the volumes.
3. We now also see a reversed head shoulder formation in the Bullflag.
4. The upside targets for both the Bullflag and the reversed head shoulder formation are both pointing towards USD +40.000 USD as a first target! IF that target is reached higher ones will follow.
5. In my previous analysis of Bitcoin which you can see below, the target of that inverted HS formation is 40.822 USD and that is still perfectly valid. It is a first target because if Bitcoin will see that level if will rise more. That will be validated with new structures of course. Trade what you see and nothing more untill it gets clear in my opinion.
Of course, this Bullish scenario will ONLY be validated if there is a breakout from the bullflag with good volume. As in my earlier analysis of Bitcoin, it all points to higher prices.
I am creating another separate chart for the full purpose of the Bullflag. Note carefully that everything is valid only after an upward breakout.
Traders, please your comments so we can look at this situation from all sides!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like👍. That motivates me a lot to continue💚!
Comment:
Here the target for the Bullflag if Bitcoin manages to break out to the upside.
Comment:
Dear traders, do not trade this pattern before you have a confirmed breakout to the upside with more than average volume. If the Bullflag is not broken to the upside BTC will probably decline again. Untill where a decline will go remains to be seen as new structures develop and of course without stops thismarket is suicide but that is well know. Noramlly the 50% fib.retracement levels offer good support.
Wish you safe trading and profits!
Wish you safe trading and profits!
Comment:
Traders check also the bigger INV HS pattern.
What we see now is a retest of the neckline and a buliish falling wedge
What we see now is a retest of the neckline and a buliish falling wedge
Comment:
Dear traders, Watch also the symetrical triangle in Bitcoin. It is important that it break to the upside. Personally I do think that will happen but we know it only when it happens and not before. Trade what you see not what you think!
With a closing bar above the trendline you are also more sure that it is not only a wick and it confirms the pattern.
With a closing bar above the trendline you are also more sure that it is not only a wick and it confirms the pattern.
Comment:
Dear traders, I updated a chart which you need to look at. Not to scare you but just to show you some signs I see in Bitcoin. Because Bitcoin is the leader, the Alts follow if it would decline. Also do not forget that we have had already a massive upleg and possible that also needs a counter reaction. I have no bias, no long, no short. I just trade what the charts show, nothing more and nothing less. I like to keep it clear and simple ;-)
