I think this could be a possible pattern for BTC from now until year-end. I know there are some people who think BTC is going down, but I think BTC already has proven to have a strong support at around $29.3k. We have a possible head and shoulders pattern completing shortly here as the measured move was precisely at around $29k which was tested and backtested several times. Very technical trading here, and BTC very responsive to supports and resistances. I also see that black dotted trend line which seems to be relevant, so I decided to use is a potential support/resistance for the coming waves which may be at play next. Lastly, I am not too sure about the last move to point E, which may end up playing inside a wedge that may end up failing but we will see. Remember that no one has the crystal ball and this is just a theory. Do your own due diligence. No financial advice.
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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.