Updated

BTC analysis

XBTUSD

Note

Day chart.
The current BTC price action is forming bearish flag which will lead us to double bottom.
There is enough RSI room for downward.

Note

My mistake. The target is around 6760.

snapshot

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RSI sideway movement at the crucial level.
BTC is going to make a direction.

snapshot

Trade active

Breakdown.
Small rebound expected at marked price level zone.

snapshot

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Target update :
The red line could be pierced.
5850~6200 is target for bearish flag.

snapshot

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Then the target of the head and shoulder pattern is around 1850.
Time frame of the chart below is weekly.

Bear. Towards. Capitulation(BTC) $1800.

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We also can see inverted Cup and Handle pattern.
In this case, the target is around 3550.

snapshot

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Temporary target reached.
Going down again after recovering RSI

snapshot

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Short term target : around 8500

snapshot

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RED : HEAD AND SHOULDER (target : around 4300~4400)
YELLOW : BEARISH FLAG (target : around 6200~6300)

snapshot

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Expecting price action like this

snapshot

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Huge drop from 8500 to 4000 for 10 days(29th March)

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Trendline of RSI has been broken.

snapshot

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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.