Bitcoin Analyze (Head and Shoulder Pattern/Timeframe 15min)!!!
Updated
Bitcoin made a Head and Shoulder Pattern on the Heavy Resistance zone, which can signify the end of the bullish rally we saw these days.
In addition, still, we don't hear the good news in cryptocurrency markets ( DXY is bullish, the Stock market is on the correction, the Cryptocurrency market is still in the shock of LUNA, and War is still running (unfortunately), Covid is growing up again, etc.).
Also, Bitcoin can make The Fan Principle Patten.
🔆Fan Principle Patten: This is a very interesting use of the Trend Line-The Fan Principle. This happens when the market is very volatile. In this principle, a trend line is broken and takes resistance at retracement in the uptrend. And the trend line is broken and takes support at retracement in the downtrend. Now a new trend line is formed and these things to continue and another new trend line is formed and repeats this process three times and now the trend is changed. This is an overview of the fan principle Pattern.
Fundamental News: Tesla has just sold $936 Million worth of their crypto assets, most of which were made up of Bitcoin.
🔴Heavy Resistance Zone🔴: 24100$ to 2302$
Head and Shoulder Pattern's Target🎯: Around 21580$
❗️Note❗️: If Bitcoin can break the Heavy Resistance zone, the Scenario will change (Low possible).
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
In addition, still, we don't hear the good news in cryptocurrency markets ( DXY is bullish, the Stock market is on the correction, the Cryptocurrency market is still in the shock of LUNA, and War is still running (unfortunately), Covid is growing up again, etc.).
Also, Bitcoin can make The Fan Principle Patten.
🔆Fan Principle Patten: This is a very interesting use of the Trend Line-The Fan Principle. This happens when the market is very volatile. In this principle, a trend line is broken and takes resistance at retracement in the uptrend. And the trend line is broken and takes support at retracement in the downtrend. Now a new trend line is formed and these things to continue and another new trend line is formed and repeats this process three times and now the trend is changed. This is an overview of the fan principle Pattern.
Fundamental News: Tesla has just sold $936 Million worth of their crypto assets, most of which were made up of Bitcoin.
🔴Heavy Resistance Zone🔴: 24100$ to 2302$
Head and Shoulder Pattern's Target🎯: Around 21580$
❗️Note❗️: If Bitcoin can break the Heavy Resistance zone, the Scenario will change (Low possible).
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Note
Classic Reversal Patterns of Technical Analysis !!!👨🏫
Note
Fan Principle Patten is working well✅Note
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