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Welcome to this BTC /USDT update. BTC is not looking good here.
Let's get to the chart first.
BTC is making a head&shoulder pattern in an 8hr time frame which is usually a bearish pattern. It also breaks down the neckline of the head&sgoulder pattern and currently retesting it. After this retest, we can expect more dump.
BTC has important support at the $36.5k-$37.5k level. Either we get bounced from there or if not then it falls more and we might see $30k according to this pattern.
Also, if you see a daily chart of BTC then you see that BTC is forming a bearish flag pattern in the daily time frame which has not broken down yet. If any daily candle closes below $39k then it will be very bad for the overall market.
What do you think about this?
Do you also think we can see more dump from here or do you think that BTC starts pumping from here?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this BTC /USDT update. BTC is not looking good here.
Let's get to the chart first.
BTC is making a head&shoulder pattern in an 8hr time frame which is usually a bearish pattern. It also breaks down the neckline of the head&sgoulder pattern and currently retesting it. After this retest, we can expect more dump.
BTC has important support at the $36.5k-$37.5k level. Either we get bounced from there or if not then it falls more and we might see $30k according to this pattern.
Also, if you see a daily chart of BTC then you see that BTC is forming a bearish flag pattern in the daily time frame which has not broken down yet. If any daily candle closes below $39k then it will be very bad for the overall market.
What do you think about this?
Do you also think we can see more dump from here or do you think that BTC starts pumping from here?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Comment:
Waiting for the daily close. If we get the daily close above $40k then this pattern becomes invalidated and we go for the higher price.
