If you remember Symmetrical Triangle(Post Topic: 🔥 Bitcoin is on Contracting Triangle 🔥 (Road map)🧐), the price was able to break it (down), and now BTC is running at Regression Channel until complete Pullback to lower line of our triangle. In this area, we have a Resistance Zone + TRZ (Time Reversal Zone).
Resistance Zone includesPitchfork's Lines + Yearly Resistance 1 (37678$) + Cluster of Fibs + Lower line of Symmetrical Triangle.
Also, I found Rising Wedge Pattern at RSI (The wedge broke down) + Hidden Divergence (HD-) between MACD and Price, Until NOW + Ascending Channel on MFI (Money Flow Index/This channel was broken downwards).
My Suggestion: We can find the best triggers on TRZ for opening Short Positions OR we can wait for breaking our Regression Channel (to down).
Take profits for Short Positions:
Take Profit 1: 33480$ (Weekly Support 1)
Take Profit 2: 32500$ -32380$ (Support Zone)
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.
Good luck
Comment
Bearish tri-star pattern 👍.
Comment
💵📉Bitcoin Analyze Timeframe 15min 📉💵/pay attention to Rising Wedge 👀
Comment
New Post.👍
Comment
The new post read it please: Bitcoin Analyze (Technical & Fundamental)!!!
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.