After a big move down from 64k to 30k, bitcoin had formed a pendant pattern but it failed to drop further and start consolidating in small range 40.8k- 30k.
The current situation isn't as bearish as we think if we zoom out to weekly and monthly.
A break of 40.8k will signal a rise up to a possible 49k
a break below 30k will be a LAST shake out the weak . These kind of move has happened many times in the past
In either case, just stay alert for the move to happen and join in time. The longer we consolidate in this range, the more bullish it will be favored
Note: this is not financial advise
The current situation isn't as bearish as we think if we zoom out to weekly and monthly.
A break of 40.8k will signal a rise up to a possible 49k
a break below 30k will be a LAST shake out the weak . These kind of move has happened many times in the past
In either case, just stay alert for the move to happen and join in time. The longer we consolidate in this range, the more bullish it will be favored
Note: this is not financial advise
Note
if btc can reach 40.7k again, high chance we will go up to 49k sooner or laterNote
some indicators tell me that we are going to test 40.7k again soon :)Note
Note
look like we decide to test the low in the rectangular range again . it should be a buy opportunity.Note
time to back to upper rectangular range after shaking out weak-hands.Note
even though im optimistic but thing looks pretty weak now. Be prepared for the worst and get outNote
better to wait how weekly candle ends
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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.