BITCOIN- Neutral but are you Ready for both Bullish and Bearish PA?
Thank you guys for the support. Let us get to the chart:
#BTC looks like standing on a decision point.
So need to be ready for both Bullish and Bearish Move.
BULLISH :
1. The price is looking Stable now but if it breaks the Red horizontal candle and closes above it with with high volume there’s a big chance that we can see ATH within the next Year.
2. Mid term Target will be 10,300
3. You can see that Inverse Head and shoulder if the price action moves in that direction we can see BTC reaching $16250.
4. Break above 10500 will make new HH which means Bullish uptrend.
5. R2 Resistance in Line 2 is also a major resistance at 9700 keep an eye on it.
BEARISH :
1. If the PA follows the Red line which is the Right shoulder of the H&S price could fall to the 6200 to 6700 level.
2. From this 6200 to 6700 level we will have a strong confirmation for uptrend as it will complete the H&S Pattern.
3. This move will complete the Descending Triangle Pattern too.
4. First Support: $7561 and $6438 after this Price will go up and touch the 10k level
5. After that we can see an Uptrend.
For learning purpose I have drawn the patterns on the chart:
1. Descending Triangle and Inverse head and shoulders.
2. I have also shown the current positions of BTC in those diagrams.
If you Follow this Chart and my strategy you will make big profits for sure. So FOLLOW me and FEEL free to like share and comment your views on this Chart.
Note:
Support: $7561/$6438/$4889
Resistance: $10450/$12500/$16261