Hello my friends 🐺 .
In today idea I want to talk about the BTC price targets , as you already saw in the title this idea gonna be a mid or long term update , also it's based on the weekly chart ; so it's very important to know that the weekly chart is more often used for mid term targets and it's not suitable for a short term trades .
let's dive into the chart :
As you can see in the picture above we have an absolute clear Inverse H&S pattern which usually consider as a bullish pattern and in the other hands we could see that EMA ribbon now is flipping to the bullish and BTC tries to retest it as a weekly support , and in my opinion it's a very good news for the BTC bulls and the overall market situation .
Also if you look at the chart , you can defiantly see that BTC is already broken the neck line which was also the strong resistance and now it act as support for the BTC ; the interesting point about it ; is this amazing alignment of the EMA ribbon and the neck line of the H&S pattern ;
In my opinion we still haven't seen retest to the neck line , which is also a very important level for the BTC bulls to hold above it so the next upcoming move for the BTC could be to the down side .
I will talk about the BTC bullish targets and also the possible entries points for the BTC in my next Ideas so make sure to follow my ideas to take advantage of this huge BTC move .
In today idea I want to talk about the BTC price targets , as you already saw in the title this idea gonna be a mid or long term update , also it's based on the weekly chart ; so it's very important to know that the weekly chart is more often used for mid term targets and it's not suitable for a short term trades .
let's dive into the chart :
As you can see in the picture above we have an absolute clear Inverse H&S pattern which usually consider as a bullish pattern and in the other hands we could see that EMA ribbon now is flipping to the bullish and BTC tries to retest it as a weekly support , and in my opinion it's a very good news for the BTC bulls and the overall market situation .
Also if you look at the chart , you can defiantly see that BTC is already broken the neck line which was also the strong resistance and now it act as support for the BTC ; the interesting point about it ; is this amazing alignment of the EMA ribbon and the neck line of the H&S pattern ;
In my opinion we still haven't seen retest to the neck line , which is also a very important level for the BTC bulls to hold above it so the next upcoming move for the BTC could be to the down side .
I will talk about the BTC bullish targets and also the possible entries points for the BTC in my next Ideas so make sure to follow my ideas to take advantage of this huge BTC move .