The price has formed the head and shoulder pattern and the bullish volume has been increased. Due to which the price will increase upto the resistance level which is acted as the support level of the channel pattern. Target is 1.28
The price has been pushed from its major support zone and is growing towards the level of resistance which is 0.00001422
Things will get interesting next week as Shib inu($SHIB), Dogecoin($DOGE) and others to be accepted as payment at thousands of restaurants.
On the weekly time-frame, the BTC chart continues to traverse within a descending triangle pattern, trading almost at the pattern bottom. We could expect a bounce back from the level $20,000 level in the coming days. The next resistance for BTC is expected at $30,000 and an immediate support is expected at $20,000.
The price is moving exactly along the triangle pattern forming lower lows and lower highs. There is a formation of falling wedge inside the triangle. Its already moving in a downfall movement. Lets see if it breaksout from upside or downside.
As the price has formed the channel, u can see the breakout has taken place from the downward trajectory which, in turn, should act as a strong base (support) for the USD/CAD pair and a key pivotal point in daily chart.
The price breaks the level of 1888 down in 1 hr chart and, having not reached the local minimum, reverses and rolls back to the previously broken level. I expect the fall to continue after testing the resistance. Firstly, it will take some correction from point 1872 and again falls down.
As I have said in my previous idea that the price will fall but it showed a little growth at 1790(false breakout of resistance level). Now the price is fixed on its resistance zone and fall towards the support level.
A strong trending move, if a bullish candle crosses the upper trend line then go for long and if a bearish candle crosses the lower trend line then go for short.
Stop loss 1 ATR below/higher the low/high.
Exit by using moving average or structure