#BTC you can see the figure of an inverted head and shoulders
#BTC
On a 4-hour scale, you will notice that the price is likely to fall to the support level of 3600, from where it can rebound. If the price follows this scenario, then on the chart you can see the figure of an inverted head and shoulders. If the scenario of this pattern is confirmed, we will be able to move higher.
On a 4-hour scale, you will notice that the price is likely to fall to the support level of 3600, from where it can rebound. If the price follows this scenario, then on the chart you can see the figure of an inverted head and shoulders. If the scenario of this pattern is confirmed, we will be able to move higher.
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#BTC
The main graph is drawn in a hurry, but on the whole the message should be clear: we are rolling back slightly in order to build another wave of growth.
If we consider the 4-hour scale in more detail, the price can roll back to the level of Fib 0.618, where good support can be seen, from here we have good chances to rebound and move upwards, thus forming the right shoulder of the inverted head and shoulders. For a further positive scenario, the price should overcome the resistance of the “neck” of this figure, the range is about 4400, which will give the market the strength to move to test 5000.
The main graph is drawn in a hurry, but on the whole the message should be clear: we are rolling back slightly in order to build another wave of growth.
If we consider the 4-hour scale in more detail, the price can roll back to the level of Fib 0.618, where good support can be seen, from here we have good chances to rebound and move upwards, thus forming the right shoulder of the inverted head and shoulders. For a further positive scenario, the price should overcome the resistance of the “neck” of this figure, the range is about 4400, which will give the market the strength to move to test 5000.
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#BTC
On a 4-hour scale, the price still remains in the uplink, the lower bound of which has shown itself to be a good support. The pattern of the inverted head and shoulders continues, if the market continues to remain in the channel, then we should expect the test of resistance 4400 and if it breaks down, the subsequent growth to the resistance of 5000. You can also consider the extreme candle of 1-week scale: if the upper shadow remains larger body, then we get the next week with a bearish character, if the shadow from the bottom is larger than the body, then the next week will be bullish.
On a 4-hour scale, the price still remains in the uplink, the lower bound of which has shown itself to be a good support. The pattern of the inverted head and shoulders continues, if the market continues to remain in the channel, then we should expect the test of resistance 4400 and if it breaks down, the subsequent growth to the resistance of 5000. You can also consider the extreme candle of 1-week scale: if the upper shadow remains larger body, then we get the next week with a bearish character, if the shadow from the bottom is larger than the body, then the next week will be bullish.
Trade active:
#BTC
The price still holds at good levels to continue the positive scenario, but it is worth noting that a breakdown of the lower edge of the upward channel and a departure below the level of 3700 will indicate the formation of a bearish mood in the market. We are still bullish, but the next couple of days can be decisive for determining the future price development scenario. As long as Bitcoin stays above the level of 3900, you can count on further growth, leaving below 3700 will give the ground for the formation of a downtrend.
The price still holds at good levels to continue the positive scenario, but it is worth noting that a breakdown of the lower edge of the upward channel and a departure below the level of 3700 will indicate the formation of a bearish mood in the market. We are still bullish, but the next couple of days can be decisive for determining the future price development scenario. As long as Bitcoin stays above the level of 3900, you can count on further growth, leaving below 3700 will give the ground for the formation of a downtrend.