#BITCOIN ⟶ HEAD AND SHOULDERS CHANNEL CONFIRMS SELL!!
💎#BITCOIN / ⏱4-hour Timeframe
👉After encountering significant resistance at the weekly channel's midline and the weekly #BITCOIN resistance (59661.3):
✅We anticipated a decline. However, whether this decline will continue depends on the structure that forms🧐
🔻On the 1-hour timeframe, after falling from the weekly resistance, we've witnessed the formation of a head and shoulders channel🔻
✅Subsequently, the breakout of this channel to the downside has confirmed a sell signal🔻
🎯This could potentially lead to the following targets:
🔻Target 1: 54841.57
🔻🔻Target 2: 52381.30
🔻🔻🔻Target 3: 50096.10
❌The head and shoulders channel itself provides us with the stop-loss for the bearish scenario:
👉If BITCOIN rallies and sees a price above the previous high (59809.65), the stop-loss for the bearish scenario will be activated, and the analysis will need to be revisited🔄
👉After encountering significant resistance at the weekly channel's midline and the weekly #BITCOIN resistance (59661.3):
✅We anticipated a decline. However, whether this decline will continue depends on the structure that forms🧐
🔻On the 1-hour timeframe, after falling from the weekly resistance, we've witnessed the formation of a head and shoulders channel🔻
✅Subsequently, the breakout of this channel to the downside has confirmed a sell signal🔻
🎯This could potentially lead to the following targets:
🔻Target 1: 54841.57
🔻🔻Target 2: 52381.30
🔻🔻🔻Target 3: 50096.10
❌The head and shoulders channel itself provides us with the stop-loss for the bearish scenario:
👉If BITCOIN rallies and sees a price above the previous high (59809.65), the stop-loss for the bearish scenario will be activated, and the analysis will need to be revisited🔄
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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.
פרסומים קשורים
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.