BTCUSDBig red bar last night, took bitcoin price down almost 900USD or close to 9%. Low of that bar is at 9290 with strong resistance been around 9100.
Big channel that started begging of 2020 is broken for now, but possibility of new channel been established is there. As trader you should not forget that one pattern can be changed to the other rising wedge to bear flat, channel to wedge etc.
After initial drop market is stabilizing and manage to close above 9540 (orange line) and managing to stay above it.
In the process
BTCUSD made head and shoulders with neck line been penetrated but no close bellow yet.If H&S plays out target is around 8800 .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.