Hello, I am back with an idea on BTC/USDT pair, 1h time frame. I am following BTC very closely and I was waiting for this moment for a while. However there is two scenarios, in which I am more convinced for the first.
First Scenario- Head and shoulder pattern, and it is confirmed as the high point was almost the same as the other shoulder. In the RSI, I see a small bearish divergence, so I think in the short term we can see it drop to 34-35k and expect a bounce off there. However, the pattern is yet to complete.
Second scenario- As the pattern remains uncompleted, the only way BTC survives is pushing above 40k, which in the short term, means a bullish scenario for a while. However, I am not very positive of this.
Trade with patience and wait a couple of hours, until we see which direction it will take. Trade carefully and be smart with your moves. Hope you like my idea and you are free to comment about anything. :)
First Scenario- Head and shoulder pattern, and it is confirmed as the high point was almost the same as the other shoulder. In the RSI, I see a small bearish divergence, so I think in the short term we can see it drop to 34-35k and expect a bounce off there. However, the pattern is yet to complete.
Second scenario- As the pattern remains uncompleted, the only way BTC survives is pushing above 40k, which in the short term, means a bullish scenario for a while. However, I am not very positive of this.
Trade with patience and wait a couple of hours, until we see which direction it will take. Trade carefully and be smart with your moves. Hope you like my idea and you are free to comment about anything. :)