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BTCUSDT is creating an inverse head and shouldersBTCUSDT: The price got a rejection from the weekly resistance on the 46k as I said on the previous analysis. On the daily timeframe (the upper one) the price is creating an inverse head and shoulders and its neckline is the 46k key level. On the 4h timeframe (the lower one) we can see a Pennant pattern, and the price is testing the static support on 0.5 - 0.618 Fibonacci level. Usually, when the price is in the accumulation phase below an important structure we will see a new breakout. How to approach? We are monitoring the market and will wait for a reaction on the 0.618 Fibonacci level (43k). we could see a deep retracement until the lower trendline. If the price is going to lose the dynamic support the next valid support is 40k. IF the price is going to have a breakout from the pennant and a CLEAR breakout from 46k, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Long
by InkyGrip
5
BITCOIN 4H Inverse Head and Shoulder Bullish PatternBitcoin is forming an H&S pattern which is a bullish pattern. Currently, the market is at a standstill and is waiting for US Markets to react to the Russia-Ukraine Situation. A fundamentally strong event is happening internationally which can shape the markets for months to come if a war happens, the best strategy for me right now will be to wait for the market reaction to the to-be or not-to-be war. From a technical analysis point of view Bitcoin has taken a healthy correction and a point of $40,200 is still not a stretched out possibility as it will liquidate a lot of long positions and that is always a good signal for a good Pump, accumulate alts at sale and stay out of leverage
by CryptoJargonYT
5
#BTCDAILY - 6.DEC.21 MACRO LOOK AT BTC#BTCDAILY - 6.DEC.21 MACRO LOOK AT BTC What a few days!!! We have been dumping now for about 24 days - so if you've made it this far without selling or DCA'ing well then keep it up! Although we will probably have a little further to go. After taking some further time to look at current movement versus previous patterns $40k-$42k is looking more and more like the bottom to me. I think we are going to move into a descending triangle/downward wedge from here. There is a slim chance of bouncing to $53k from here but SLIM. The support we are on at $46k looks weak. Currently our Key supports are: $46k $40k $30k This is not a FUD analysis but a heads up that I think we will drop further to target stronger DCA buys and accumulation. Things to look out for is key adoption (Amazon, Ebay, Apple), Spot ETF (Grayscale, ARK), national adoption (similar to El Salvador etc.) or even PayPal opening the doors in other markets to turn the tide.
by Kryptochristian