We are doing Analysis of BTCUSDT on 4 Hour Timeframe.
I have Mention Support and resistance levels on Chart
Note: This is only for Educational Purpose this is not an Investment advice.
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BTCUSD as formed double top and triangle pattern on daily chart and small triangle in 1hr chart. It as broken triangle pattern in 1hr chart and expecting upmove for short term. Please zoom if you if the 1hr triangle is invisible .
If you take position after price breakup trough TL2 that that was outstanding and easy position.
I have created Channel but the price did not reach upper line of the channel.
I just waited for candle to be closed. On the lower TF momentum slows down.
But we have wait until price either break trough the TL of the channel or rises higher.
BTCUSD 4h time frame. there are three H&S and one of them failed. watching current one if it does hold right shoulder then possibily target 11364 can be achieved and if not holds then downside 8443 for initial low.
Just a thought process.
btcusd forms as usual right shoulder always smaller then left. so pull may happen small and then zomed up.
On hourly chart Bitcoin has completed H&S pattern, also right shoulder had pushed down by resistance at 50EMA,and volume surge on breakout indicate short on Bitcoin..
SL at breakout 10,400.
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