POTENTIAL DROP TO $35K??? 2 RED MONTH CANDLE TECHNICAL ANALYSIS
To summarize the video, there is a potential drop to the $35k from what my analysis shows.
In the past, whenever we have had 2 red month candles (in a bull market), prices have dropped significantly towards the 50 week EMA before finding reversal to the upside. While showcasing the patterns, I also explained a potential head and shoulders pattern in play which also becomes confluent with the $35k price target to the downside. Another thing I forgot to mention in the video is the VPVR, which once again, coincides with the $35k level.
Hope to hear your guys' thoughts about this analysis. Please do not take this as financial advise as I am not an experienced trader. I am just trying to share what I find interesting. Cheers!
In the past, whenever we have had 2 red month candles (in a bull market), prices have dropped significantly towards the 50 week EMA before finding reversal to the upside. While showcasing the patterns, I also explained a potential head and shoulders pattern in play which also becomes confluent with the $35k price target to the downside. Another thing I forgot to mention in the video is the VPVR, which once again, coincides with the $35k level.
Hope to hear your guys' thoughts about this analysis. Please do not take this as financial advise as I am not an experienced trader. I am just trying to share what I find interesting. Cheers!