BTCUSDT ! What's next?๐พ
Hi friends! The massive Bitcoin pullback happend which confirm the BUYERS power. Let`s compare two simmilar and famous patterns that shared in the TW for the last weeks.
๐ Most traders and authors on Tradingview expected a repeat of the bearish flag (channel) break down as shown in example #1.
As we can see, the price consolidated in the descending channel for a long time, after which the price broke its lower boundary. When Bitcoin fell to the key level of $34,500, the price and the bulls did not react to it in any way. The price fell by -46%. This is what shows the weakness of Bitcoin , and usually the whole market.
๐ Now we see a different picture in example #2. The price was also in a channel and formed a huge bearish flag .
After breaking the lower boundary of the channel and falling to the key $19,000 level, the price rebounded strongly. The rise so far is 20%. This is the strong technical confirmation of the BUYERS!
๐ Most traders and authors on Tradingview expected a repeat of the bearish flag (channel) break down as shown in example #1.
As we can see, the price consolidated in the descending channel for a long time, after which the price broke its lower boundary. When Bitcoin fell to the key level of $34,500, the price and the bulls did not react to it in any way. The price fell by -46%. This is what shows the weakness of Bitcoin , and usually the whole market.
๐ Now we see a different picture in example #2. The price was also in a channel and formed a huge bearish flag .
After breaking the lower boundary of the channel and falling to the key $19,000 level, the price rebounded strongly. The rise so far is 20%. This is the strong technical confirmation of the BUYERS!
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