BTC CHART After breakdown from the head and shoulder pattern on daily chart bitcoin got the breakdown started and settled at 20k level but we are the time where we are ready to step more down to 8-9k level in the short term 9k is the demand zone i hope the 9k zone will start a new bull wave towards the sky but for now be ready to move down to 9k once we break below 17k level we can see a free fall to 9k level .I HOPE THE BEST.
MBT1! trade ideas
Bitcoin daily chart on CME
Bitcoin daily chart on CME - we are in a weak bullish channel with a Doji Star on the red arrow giving the signal for the reversal.
At the moment falling to 2 possible prices 1- 22,190.00 dollars Fibo 61.8 of the last high leg and the other target is 21,095.00 which is the mejure move ABC.
Note we are close to the main bearish trendline. We can see this channel being a possible bearish flag setup.
When it hits this trendline, it can break up and go for $30,000.00 or it can fall and go for $17,500.00 to $18,500.00
Not to financial advice.
Bitcoin on CME daily chart.
Bitcoin on CME daily chart shows price in a bullish reversal channel.
It is on track to meet the downtrend line between $22K to $26K by the 7th of September to the 3rd of October to try to break up.
The chance of breaking this trendline is less than the chance of failing and continuing to fall,
but it can happen. If we follow the path of inertia we can go for the bottom of the range at 18,500 dollars.
If it breaks up, it will get the 28,185 dollars.
btc upcoming level only just for educational use only Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
Will Bitcoin hit 40k in the coming weeks?Bitcoin made two breakout attempts recently. The second breakout failed and this failure is indicative of more downside in the coming days.
Supports that are well in target are just 6 to 8% away and lie close to 49k to 50k. A strong support of rising 200ma is well in sight. This range seems like a good support zone. The confluence of trend line support and moving average may well lead to a short term bounce from this lower range up to 56k.
But I truly wonder if the support zone near 50k is going to hold for long. To me a high probability of 40k exists, yet that can only become likely if the support range of 49k to 52k gives away.
Why does 40k that seems a fair probability?
Generally two quick attempts at the upward breakout have lead to selling pressure. Often it's been seen that if a quick second breakout fails, such failure may very likely to lead to a strong move in the opposite direction of the breakout.
With that being said, let's see how the price action shapes out in the coming weeks ahead.
All Targets Achieved | 26% in just 29 days | Bitcoin All Targets Achieved | 26% in just 29 days | Bitcoin |
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BitcoinBitcoin formed a bearish reversal chart pattern called double top. Double top chart pattern is completed in five weeks and also got price and volume confirmation.
Sell below 57800
Stop Loss 67500 (SL above shooting Star)
Trail SL 61200 (If price goes below previous low dated 22 Nov 2021)
Target 48000