bitcoin crossed the rising wedge some days behind but the binance bad news again the chart created the bearish trend but now btc stable and holded stron at level 9k and rised more then 400$ from the support level with strong buy waiting to cross the again bearish wedge to rising wedge.
Bitcoin Price Analysis For Long Term
Inverse Head & Shoulders Pattern are forming, if it continue then it is a bullish signal,
Then price wlii touch near the ATH,
Reach the 17K $ .
According to Elliot wave theory BTC should go to around 8100-8500, because 1st wave is completed around 11700, now the correction waves comes into the picture, so According to ABC correction waves and fibonacci retracement, it should go around 8200.
These are only my thoughts not a financial advice, and btw always play it your own way.
BTCUSDT:BINANCE 4 HRS
As we see BTC is following the downtrend since last two days, although trying to keep up but somehow fails to achieve it.
as it seems breaking the support level at 9700 will give us a indication of falling into a bearish market, followed with a downtrend confirming with macd & rsi.
similarly breaking the 11000 resistance level will give us...
you can see my last post bitcion near to 11500$ and now going to bearish for small moment you can use stop loss 10200$ for safe zone if bitcoin not cross that support level so it will go to 12500$ next target if not then possible to go near 9500$ resis level
waiting for break out from 9200$ if it is not cross so it is possible to frop near 8400$ btc dont trade if bitcoin cross the 9200$ and touched the 10500 resis level bcz the alts chances to go down.
Feb end will be good for market bitcoin moving in good position but the uptrend is not confirm yet 12000$ month end target. keep patients and move with market use money management .don't follow any bull shit group who never show you really they work and doing trading use your knowledge and follow real people who have experience.
you can see in my last morning post the big support near to 5800$ to 6200$ is very important for today so we can see past few hours btc moving near to 7500 also after the 3days big fall btc covred small position if this trend will continued we will see 8500 or 9200 resis level testing. in this month we will see bitcoin will cover to 12000$ again. if market in good...
