Just a continuation of previous idea. (Link below)
Now that the death cross is confirmed (on MAs, namely 50 and 200 MAs), I believe the price action I'm guessing is on track. We'll see more downside soon (down to 20K-ish). That, of course, given there is no external influence (Elon's tweet for example).
When shows up, Death cross historically mirrors the...
Bitcoin held the 34700 support as said in my last updates. This level needs to hold. Currently apart from every possible way BTC entered back into the channel. A very clear sign of manipulation. BTC if fails to hold the 34.7k level by the weekly close be ready for 28k. Even I got into this trap. Bought back BTC around 36.5k. Bought some more...
Here on the 1 hour time frame we see that BTC is in a Bullish channel and has got 3 rejections from the Support line. On the other hand the price is right at the previous Resistance turned into Support which is suggesting the price might go higher from this level. If the Pullback happens it must be around 37978.0
I can't help but notice the similarities between price action starting April 26 and June 9, 2021.
This chart is the continuation of that idea, namely if indeed both similarities lead to the same scenario.
BTC/USDT is forming an uptrend on the 4H time frame chart.
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Hello everyone, welcome to this quick update :-
BTC is trading under the triangle as of now and is successfully holding the 39k level since the breakout.
What matters the most is we need a healthy retracement here.
There's also a CME gap around 38k level.
So this pump could end up being a trap.
Just my opinion!
Expecting breakout in the next 4 to 6 hours.
Recently there was RSI divergence during Feb 2021- May2021 and we witnessed a great drop in prices .
Currently hidden RSI divergence is taking place in daily time frame,
so is 20-25k possible for BTC?
share your views!!
A Trading Signal is seen in the BTCUSDT Bitcoin
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 38293.7
⭕️SL @ 37365.0
🔵TP1 @ 41224.3
🔵TP2 @ 43510.0
🔵TP3 @ 45624.0
If you liked our ideas, please support us with your likes 👍 and comments .
Within few weeks we will be able to figure out where the BITCOIN is heading once it completes forming this pattern. I have mentioned the possible paths it is expected to follow.
☆ Kindly like & share ➥ this pattern. Comment ⎚ with what do you think. Follow me @ tradingview for more updates and like the chart ❤!!!