Hey folks, Hope everyone is doing well in green market and enjoying their gains.
As we all know, BItcoin Price action is stalled indicating BTCUSD about make a move in a day or two, Here are potential scenarios for bearish and bullish case.
1. Bullish Case: Adam and Even Formation with Breakout Level: $7920
LONGs or SHORT covering will happen above $7900 in...
$BTC Bulls shown good upside momentum towards EMA(200)
Bulls need to decide tomorrow whether MACD crossover would occur or they will get rejected by EMA(200) and RSI (50)
Our key level is at previous 9.3k level double top neckline which will now act as potential neckline for inverse H&S reversal.
Chart Patterns on BTC
- Resting at minor support of 8.3k level
- Ascending Broadening Wedge broken downside
- Next Support level => 7.8k level followed by 7.2k level of double top target
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1) Traders will take Short Positions on test of pivot line around 9400, If they succeed with the supply line then $BTC will retrace back to test 8k level again to form Reversal Pattern as suggested earlier.
2) Short Squeeze: If Shorters failed by Bulls and try to cover their short positions by buying more and more BTC =>...
$KNC Trade : KyberNetwork is a system which allows the exchange and conversion of digital assets.
Buy Price : Under 33k sats
TP-1 40k sats,
TP-2 48k sats
TP-3: Moon in March
Stop Loss below S1 support: 29.3k sats
- Partnership with ICX as we mentioned in earlier posts.
- Wallet Release in Feb
- Mainnet Launch in Martch
BTC on major downtrend ahead: with $5k as Major support (Ichimoku Cloud Support)
- Bearish MACD crossover (above MACD trendline of the previous crossovers)
- Bearish RSI (below 50 level) on daily chart
- Bearish TD-4 on daily chart => Still TD-9 has to arrive meaning 5 more red candles to continue the bearishness.