price might be breaking away from what seems to be a bearish flag formation, also a small resistance turned support region (now again resistance, maybe). I'm waiting for rejection before entering on this short trade .
Price has formed a double bottom, BUT, we need to wait for a break in the neckline and/or retest & rejection of said neckline before we enter a LONG trade. That is my bias for this pair for this week.
Do you have any other analysis?
Stochastic showing losing momentum of price on Daily TF.
Price has broken previous lows on lower TF (1HR).
Price below EMAs.
Based on technical price is bearish.
Based on previous price support, price may be going down to $19,000.00.
Duration for the price move is unknown, maybe a news might act as a catalyst.
Double bottom (green) above Double bottom (blue) INSIDE a Double bottom (red) and price broke a trend line. I am pretty confident price is going up.
But anything can happen, so always remember to risk an appropriate and safe amount.
Price has broken the neckline (resistance) of a double bottom and hit resistance and falling back to test the neckline (POTENTIAL SUPPORT?).
Enter long ONLY if price rejects or forms reversal patterns.
1) Price has formed what SEEMS like a double bottom
2) There SEEMS to be a cup and handle formation as well
BUT wait for price to break either the previous high of the cup and handle formation or the neckline of the double bottom before going LONG. Price may reach the weekly zone that I've marked out on the charts.
Always practice proper risk...
Price looks like it has formed a bearish flag. But then again, its Bitcoin, anything can happen.
Price is also at a previous support, so wait for price reaction at the current level before making any decision.