BTC AT CRUX STATE
Updated
The current state of btc is crucial and a lot are probable at the moment. As indicated on chart, btc was rejected twice at 46.5k and ending up with a double top. In the event we see a breakdown in btc, the indicated support line should hold and a bounce back is probable which could give rise to an ascending channel (hidden fact for a continuation pattern to the upside). If current support hold then btc might bounce from here to the moon but the double top is likely to play out. Before taking position, watch out for confirmation of the possible scenarios.
Your likes and opinions would be much appreciated, you can follow up for more helpful contents and do follow my comment sections too for quick updates.
Your likes and opinions would be much appreciated, you can follow up for more helpful contents and do follow my comment sections too for quick updates.
Trade active
Btc found support at the first dynamic support line of the rising channel on 2 o clock of the chart. If price bounce from here and break the rectangle pattern which would now act as resistance then btc might consolidate for a while in the indicated ascending triangle before breaking out. Else, a rejection at the rectangle might result to a head and shoulder pattern which is a bearish sign signal. Possible target for the downtrend will be at the second dynamic support line(
39K - 40k)
Related publications
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.