BTC Analysis. The Warning Sign!

Hello, traders!

Let's take a look at this Bitcoin price action analysis. We can notice that the $54867 level acted as a support level and now it is high probability that it can be reached today.

Here are two potential warning signs in short run. First one is the bearish regular divergence with the price oscillator. The second one is the potential head and shoulders pattern. The potential target from these signs is $52500. In case of the bigger decline the $49577 is an extremely strong support now. You can place buy orders at these 3 levels according to DCA strategy and catch the dips.

DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.

Comment:

Hello, guys! The warning sign played out and now we have 22% correction, but this is absolutely normal for the bull market to have 20-30% corrections, keep calm and take your positions open if you have it (not a financial advise). Now the price is forming falling wedge, which is a bullish sign if it plays out. Another one forming pattern is the double bottom. If the price is able to break through it's neckline area we can see the next price target $51350.