My speculation was right, sadly RS was form on BTC, hence we have a technical break down target. Earlier my ideas for ascending triangle was invalid. We are oversold on the RSI. However there's strong support on the 48666.35 base on the vpvr. We need to hold this level, otherwise more downside will come for BTC.
BTC 1H
Evening Traders,
Today’s Analysis – TRXBTC – breaking out of an inverted head and shoulders where price consolidation above key levels will change the trend.
Points to consider
- Neckline breached (Pattern Validation)
- Daily support breached (Golden Cross confluence)
- Structural resistance confluence (Technical target)
- Oscillators cooling off
- Volume...
Evening Traders
Eid Mubarak to those who celebrate it!
Today’s Analysis – ETHBTC – breaking its neck line now forming a potential bull flag with the technical target associated at structural resistance.
Points to consider,
- Inverse H&S /Bull Flag pattern
- Structural resistance confluence
- Neckline support
- RSI above 50
- Stochastics momentum store up...
