It is at resistance, giving me the momentum candle I look for to indicate price will continue downward. If that bearish engulfer closes in this fashion, it may be a good entry for a short.
The fact that it is breaking back into the triangle structure is pretty telling.
Confirmations are key. Without confirmations, there is no trade!
Check out my previous...
POTENTIAL NECKLINE RETEST ON BTCUSD.
BULL AND BEAR SCENARIOS
IF BTCUSD RETRACES TOWARDS RESISTANCE AND QUICKLY BOUNCES BACK DOWN, THERE IS MORE DOWNSIDE TO COME IN NEAR TERM.
IF BTCUSD BREAKS FIRST RESISTANCE ZONE, WILL RETEST NECKLINE RESISTANCE, 1ST RESISTANCE ZONE BECOMES SUPPORT FOR THE BULLS.
ALTERNATIVELY, IF BTCUSD FINDS A LARGE AMOUNT OF SELLERS AT...
Bitcoin broke an uptrend, and when it breaks 49487, its selling targets are:
And when 47232 is broken, he has broken the Wyckoff drainage stage, so his selling goals are:
If he exceeds 53075, his buying goals are:
My personal opinion:
He broke an uptrend while he was at the end of the...
BTCUSD bearish wedge pattern 👀
Hello ladies and gentlemen
This is my new idea for Bitcoin BTCUSD
I expect the price to make a correction in the short term
I hope my idea is clear
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Weekend Intrigues::: That Time Ha$ Finally Come, No Matter How Strong A Move Is It Will Eventually Come To An End/Pause, That's The Case Here... Trend Up Is Losing Momentum BTC Down We Go.. See You At 41k Levels
SL: On Chart (Prefer AN SL At 62k But That Might Be Too High For Many Traders) TP1: 48K Levels TP2::: Major TP::: Yellow Line
There has not been a good week from crypto holders, with the prices dropping all over the market and in bitcoin's case, this drop is measuring around 20%.
At the time of writing the main cryptocurrency is trading at 47500 and I expect a drop under 45k recent low.
That being said, in my opinion, rallies above 50k should be sold and only a rise above 55k would put...