Take a look at the price movement of ⚠️BITCOIN, the market is consolidating around a significant daily support level.
Analyzing a 4-hour chart, I spotted a descending trend line and a potential inverted head and shoulders pattern.
The left shoulder and head have already formed, and the right shoulder is currently in progress.
The neckline for this pattern is between 83,600 and 84,488.
The trigger to buy BITCOIN will be its bullish breakout (4h candle close above), could signal a buying opportunity for BITCOIN with a target range of 88,000 to 90,000.
⚠️However, if the price drops to a new low, the pattern will no longer be valid.
Analyzing a 4-hour chart, I spotted a descending trend line and a potential inverted head and shoulders pattern.
The left shoulder and head have already formed, and the right shoulder is currently in progress.
The neckline for this pattern is between 83,600 and 84,488.
The trigger to buy BITCOIN will be its bullish breakout (4h candle close above), could signal a buying opportunity for BITCOIN with a target range of 88,000 to 90,000.
⚠️However, if the price drops to a new low, the pattern will no longer be valid.
Trade active
Bitcoin became more positive following the recent US economic news, leading to a break and close above an important daily resistance level. I anticipate that the market will continue to rise and potentially reach our target in the near future.
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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.
Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
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.