Hello traders 🐺 .
If you remember my last idea about the BTC , in that idea I was say that there is chance for the BTC to found support from the current level ( 27.5k 28k ) because price is already testing the weekly support structure ( red box ) and also we have 0.618 Fibonacci level around the weekly support and all of this signs can say us that maybe still there is chance for the BTC to recover and goes up again .
But as you might know BTC is in the bearish trend and all of this retracement to the upside could be just a correction waves of the bear trend and you can use them as a trade opportunity for opening a new short or long position depends on your trading strategy .
in the daily time frame it's seems that the price trying to goes up again and retest the bear flag or 0.5 Fibonacci level as a resistance , so let's look at the smaller time frame to see the possible trades for the BTC 👇 :
In the 4H time frame we can see a very clear symmetrical triangle which in this case we could say that this a bearish continuation pattern because that overall trend is bearish , but as you can see this pattern trying to break to the upside and in my opinion we could see a short term reversal for the BTC to retest the important levels .
I think that the most probable target for the BTC is around 36.5k .
If you remember my last idea about the BTC , in that idea I was say that there is chance for the BTC to found support from the current level ( 27.5k 28k ) because price is already testing the weekly support structure ( red box ) and also we have 0.618 Fibonacci level around the weekly support and all of this signs can say us that maybe still there is chance for the BTC to recover and goes up again .
But as you might know BTC is in the bearish trend and all of this retracement to the upside could be just a correction waves of the bear trend and you can use them as a trade opportunity for opening a new short or long position depends on your trading strategy .
in the daily time frame it's seems that the price trying to goes up again and retest the bear flag or 0.5 Fibonacci level as a resistance , so let's look at the smaller time frame to see the possible trades for the BTC 👇 :
In the 4H time frame we can see a very clear symmetrical triangle which in this case we could say that this a bearish continuation pattern because that overall trend is bearish , but as you can see this pattern trying to break to the upside and in my opinion we could see a short term reversal for the BTC to retest the important levels .
I think that the most probable target for the BTC is around 36.5k .
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✅OFFICAL CHANNEL : t.me/kiu_crypto
🐺 Discipline is rarely enjoyable ,
But almost always profitable 🐺
_____________________________________
✅OFFICAL CHANNEL : t.me/kiu_crypto
🐺 Discipline is rarely enjoyable ,
But almost always profitable 🐺
_____________________________________
