#bullish signs of a reversal $BTC
Here is my possible bull case scenario for Bitcoin:
* If all is well, it should bounce back to the resistance area between 6430.50 - 6842.50
* A break above those levels would indicate a buy signal with a target price above the next resistance lvl between 7491 - 8003 which is coincidentally in line with the 200ema. The 200ema, however, has been shown to be an invalid indication for trend reversals in bitcoin (see date 20/4 - 11/5). Nonetheless, the current bear market is showing signs of slowing down with RSI showing higher highs and lower lows.
The notes on my chart indicate a bullish setup with a "possible" bull case scenario only. A hard rejection between 6430.50 - 6842.50 would invalidate this case scenario.
* If all is well, it should bounce back to the resistance area between 6430.50 - 6842.50
* A break above those levels would indicate a buy signal with a target price above the next resistance lvl between 7491 - 8003 which is coincidentally in line with the 200ema. The 200ema, however, has been shown to be an invalid indication for trend reversals in bitcoin (see date 20/4 - 11/5). Nonetheless, the current bear market is showing signs of slowing down with RSI showing higher highs and lower lows.
The notes on my chart indicate a bullish setup with a "possible" bull case scenario only. A hard rejection between 6430.50 - 6842.50 would invalidate this case scenario.
הערה
I could be wrong here, but that breach on the right shoulder looks legit. I was close in predicting a completed inverted H&S pattern before a move up to break the neckline. It may even continue up from from here, but a breach is a breach.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.