BTC → if breaks up get a long position

Aug 17

hello guys.

let's dive in BTC!

1. Pattern Recognition:

1. Left Shoulder: The first peak formed before the head.
   
2. Head: The highest point in the pattern, showing a peak above the shoulders.
   
3. Right Shoulder: The final peak, which is lower than the head but roughly in line with the left shoulder.
   

2. Key Levels:

Neckline: The blue line around $57,571.68 marks the support level that connects the lows from the left and right shoulders.
Breakout Zone: The chart highlights a yellow resistance zone just above the current price. If Bitcoin breaks above this zone, it could lead to a bullish breakout.

3. Bullish Scenario:

Upside Potential: If the price breaks above the yellow resistance zone, the next target could be around $62,343.58. This would confirm the pattern and signal a potential continuation of the upward trend.

4. Bearish Scenario:

Failure to Break: If the price fails to break above the resistance zone, it could result in a pullback to the neckline of around $57,571.68 or lower.

Summary

• Pattern: Head and Shoulders identified on the 15-minute chart.
  
• Neckline Support: Around $57,571.68.
  
• Resistance Zone: Key area to watch for a breakout just above the current price.
  
• Bullish Scenario: A break above resistance could lead to a move towards $62,343.58.
  
• Bearish Scenario: Failure to break resistance might lead to a drop back to the neckline or lower.
  

___________________________

✓✓✓ Always do your research.

❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.

❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment

Aug 18

Note

the breaking out happened

Aug 20

Trade closed: target reached

if you get this position it is on the trendline and you can close half of your position until the price breaks it up!

Aug 20

Note

the breakout happened: