70% of times bigger timeframe patterns
can be found in a smaller timeframe
here we are looking at a potential bearish crab
but if we pay attention to the smaller timeframe it also made falling wedge after that made bearish crab which is in a small rectangular box
which looks exactly like our bigger timeframe pattern
but surprisingly it turned out to be a cup and handle in a smaller timeframe instead of bearish crab
considering it could follow the baby similar pattern we can reach the cup n handle's target in the bigger timeframe as well
and if we look closely it made cup and recently made handle too and broke out after making a small cup and handle
if I summarise my theory 56-60k zone looks good for BTC in this situation
The next fib level to watch for is 56.5k and that could become a potential next resistance zone for BTC
in a bigger timeframe potential cup and handle started little before the falling wedge and ended just recently
forecast direction: 85% bullish 10% bearish 5% neutral
can be found in a smaller timeframe
here we are looking at a potential bearish crab
but if we pay attention to the smaller timeframe it also made falling wedge after that made bearish crab which is in a small rectangular box
which looks exactly like our bigger timeframe pattern
but surprisingly it turned out to be a cup and handle in a smaller timeframe instead of bearish crab
considering it could follow the baby similar pattern we can reach the cup n handle's target in the bigger timeframe as well
and if we look closely it made cup and recently made handle too and broke out after making a small cup and handle
if I summarise my theory 56-60k zone looks good for BTC in this situation
The next fib level to watch for is 56.5k and that could become a potential next resistance zone for BTC
in a bigger timeframe potential cup and handle started little before the falling wedge and ended just recently
forecast direction: 85% bullish 10% bearish 5% neutral
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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.
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.