BITCOIN - TARGET HS FORMATION - V BOTTOM - SEE IT HERE!
Dear traders,
A quick update for Bitcoin with some extra information besides my previous analysis. The leader of the cryptos that drives everything needs to be constantly monitored in this situation because Bicoin dominance broke a longer down trendline which is not good for Alt coins.
Here we look at the 30 minutes chart of Bitcoin BTCUSDT and you see we have formed a V BOTTOM but at the same time also a reversed Head shoulder formation visible. There are more patterns like a Bullish Bat which all point to the same direction. We have positive divergences in RSI and other indicators and there is also a bullish pinbar. (see that in previous analysis of Bitcoin)
A lot of bullish factors and the targets point all to 50 to 51000 USD. This is a first target and it can become more as more price is formed and new structures become visible.
My idea is that all stops that were there have been hit and all sellers have sold so we have a much better chance of a price recovery. Price recovery can be very powerful. Look at my previous analyses where I calculated the situation in 2018 and compared it to now. History in TA repeats itself constantly.
Because the neckline of the reversed head shoulder formation is close to the downward trendline the safest thing to do is to go long after breaking the trendline with good volume although I am already LONG.
In case of a break-out, you need to place a stoploss below the last low and of course not to risk more than 1% per trade to protect your capital.
----->> Traders please follow me for updates and if you give me support with a like 👍 then that will motivates me a lot to continue 💚 - Thanks you in advance guy's! <<-----
Safe and happy trading!
A quick update for Bitcoin with some extra information besides my previous analysis. The leader of the cryptos that drives everything needs to be constantly monitored in this situation because Bicoin dominance broke a longer down trendline which is not good for Alt coins.
Here we look at the 30 minutes chart of Bitcoin BTCUSDT and you see we have formed a V BOTTOM but at the same time also a reversed Head shoulder formation visible. There are more patterns like a Bullish Bat which all point to the same direction. We have positive divergences in RSI and other indicators and there is also a bullish pinbar. (see that in previous analysis of Bitcoin)
A lot of bullish factors and the targets point all to 50 to 51000 USD. This is a first target and it can become more as more price is formed and new structures become visible.
My idea is that all stops that were there have been hit and all sellers have sold so we have a much better chance of a price recovery. Price recovery can be very powerful. Look at my previous analyses where I calculated the situation in 2018 and compared it to now. History in TA repeats itself constantly.
Because the neckline of the reversed head shoulder formation is close to the downward trendline the safest thing to do is to go long after breaking the trendline with good volume although I am already LONG.
In case of a break-out, you need to place a stoploss below the last low and of course not to risk more than 1% per trade to protect your capital.
----->> Traders please follow me for updates and if you give me support with a like 👍 then that will motivates me a lot to continue 💚 - Thanks you in advance guy's! <<-----
Safe and happy trading!
הערה:
Traders, we have a breakout from the Inverted HS neckline but there is no volume yet. Wait now for a breakout at the black trendline and you need to see some good volume. Thatn means more than average.
הערה:
Traders, we had the breakout above the trendline but volume was not enough.
At this moment volume is drying up.
Bitcoin dominance is heading south again and we see it in the ALTS which are rising again much faster.
At this moment volume is drying up.
Bitcoin dominance is heading south again and we see it in the ALTS which are rising again much faster.
הערה:
Traders, the breakout should be now for safety at 42500 because we already saw a false trendline breakout happening . This to clear the path to 50000 without.
If price bounce on the declining trendline there is a big chance we go again lower so watch it closely traders! Trade safe with stops!
If price bounce on the declining trendline there is a big chance we go again lower so watch it closely traders! Trade safe with stops!
הערה:
Traders here an update. The bulls and bears are fighting for the between de levels 38000 and 42000
