We can see correction on BTC price on weekly timeframe . Major support is given as the yellow bar. Although the price could reach the level but it needs more time to rest on this level.
This is an analysis NOT a financial advice.
This analysis is just a bearish postulate that I believe may happen if some conditions fulfill.
A. kijen sen plays a great support or resistance role for BTC paired with USDT so that we must wait for a valid breakout.
B. coming into the channel can be a good sign for correction
c. finally we can say there are 2 main area for it which are in blue.
keep your...
BTC is probable to reach the red area based on harmonic patterns. Let's just wait and see.
further updates will be provided for this analysis.
hope you gain huge.
Descending channel is clearly observable for UNIUSDT. Elliott Impulse waves to the support line of the channel can activate our trigger. however, price action plays the main role for opening a long position.
My recommendation is to open long position when the red area is broken upward strongly.
Triangle pattern (drawn on the chart) provides 2 different overviews:
1. By breaking the this pattern upward, It will soar to at least 0.9 $
2. if this patters breaks downwards, we can expect a bearish trend.
My personal opinion is on the first side. Let's wait and see.
First important Resistance: 11430$
First important Support: 9840$
it is not recommended to open a long position because of the following reasons:
1. Chicko Span is under candlesticks
2. ascending cross is not occurred
3. Candlesticks have got stuck in Ichimoko cloud
4. Based on Robert Miner strategy, dual timeframe momentums in weekly and daily timeframes show a...
bearish trend can be seen by numbers of indicators and oscillators. however, there is a fantastic strategy to show the suitable time for opening long position in Bitcoin.
