BTC on Real Bull run Or will drop Like it did at 9k Level?
After 9k Level a significant bullish candle is visible on 4h chart, It broke that green trendline and ran over 8400 in 15 minutes.
Question is : It is real reversal and next Bull run has started? We will know answer soon. First significant resistance at 8600.
It needs to cross 8600 and stay above and launch another shot
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That 8600 Resistance proved strong and BTC needs to do another attempt to break it.
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Aha, Rejected at 8600 level and fell so fast and now struggling at 8300 level, but volume is not enough . Hope you guys saved your money from this TA . If you like my work, share with friends and save them along with you.
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A possible H&S building or bear Flag which can take us down again, Bulls need to do something quick
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H&S Target is around 7900 . It may have some bounce on green trend line and then keep going down to complete target.
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Are we still making right shoulder or a triangle is in progress? we will know soon.
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That small H&S failed but triangle can still be in progress, that means we will have to look at bigger time frame for clear picture .
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On Bigger timeframe we see some falling wedge:
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On upside crossing 8600 and staying above is still very important .
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On one hour time frame looks like making a symmetrical triangle and bearish pinant :
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Triangle inside triangle , where we are going ?
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Breaking down little bit, we need to wait for the close of couple of candles.
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That tiny H & S inside the small triangle triggered it .
H & S target : 8150 where we may see double bottom and can bounce .
Triangle target : 7900
Stop - Loss : Just above the right shoulder : 8460
But wait and see if next candle on 15 mins chart is rejected from lower line of triangle .
H & S target : 8150 where we may see double bottom and can bounce .
Triangle target : 7900
Stop - Loss : Just above the right shoulder : 8460
But wait and see if next candle on 15 mins chart is rejected from lower line of triangle .
Comment:
Momentum is weak for down term, so it is becoming risky, do not enter unless there is next clear signal .
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Update here:
I will off for some hours , till then play safe . Protect asset.