bitcoin look like establishing second top and can see a dip from here to 10400
then a upside possible with target of 26000 if the level supports . good day for short entry
$BTC Warned you about $21,791 support retest coming on last Saturday, first tested on Saturday evening and currently being retested right now, Last 4H and 1D close both bearish, possibility of $20,812 support to be tested if broke $21,791 and $21,299, watch given supports.
Since 15555 we are seeing this formation and then a breakout now we have the BIGGest CUP_ ever which do deserve a BIG handle.
Market Makers I believe you will love to see that formation of the bigger charts.
We have a strong down side QS setup to follow QS downside targets 15555 ( too ambitious !!), just talking in a TA language, anything is possible.
But for...
bullish pennant pattern always work for like 70% of the time most of the traders exhaust their trade in those period of moment when it is falling and sudden built up it long form big candles coming weeks will show this.
BTC currently staying sideways in the support zone . Market is choppy both direction are little bit risky. Scalping can do in-between this small movement. Next two weeks will be the great I think.
Since the daily oscillator has turned to bullish and as the daily RSI has been making a higher low, rallies are anticipated towards 7000$. A return above the 6500$ we could expect a short-term rally to 6800$ and 7000$ levels.
supports are at 6400$ and 6190-6100$ levels.
BTCUSDBTCUSD currently trading around 27388 BTCUSD took support at the green line reversed its movement to the opposite direction but there is not much space to move as there is a minor resistance marked with blue line if BTCUSD crosses the blue line then it may move towards its resistance zone at 30021. According to me the trade will be more profitable if it...
BTC to 70k can become real by Christmas with such movement although some corrections seem pending a movement till 67-68k seems to be a short achievable goal.
reason to consider this pennant pattern as a valid one -
1. Uptrend
2. Good hourly consolidation
3. High ADX
4. Good Volumes
Hold for long targets but trail stop loss might give big targets same as the size of the pole although risk significantly increases due to sheer volatility
