Is bitcoin preparing for new low..!!
Updated
As we can see bitcoin is forming Inverted flag and pole pattern, so if it goes below 34455 level then a short position can be taken. Sl should be according to your risk capacity. first target could be around the support zone i.e arround 28000-30000 level. If that support zone is broken a good sell off may come in near future.
Comment
As you can see this analysis worked out well after the breakdown from the inverted flag and pole pattern it took support at the support zone and then gave a good breakdown and made a low of approx17000-18000. Now bitcoin can give a pullback and can retest the 28000 level...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.