Bitcoin 2 possible scenarios you have to know
Happy Christmas!
First of all, I'm sorry for a less activity on TradingView for a long time. Let's take a look at what is waiting for us for the next year.
We see that the Rising wedge was broken at $3955. Also, it was a dead crossover for EMAs.
Now we have 2 scenarios.
1) inverted Head and Shoulder. For validation of that pattern, It has to bounce from the trendline (blue), it is near 0.5 FIB ($3630-$3670), Then can retest 4400-4700 again - The probability of that scenarios is 35%
2) Retesting 2900-3000 (which the strong support zone of 2017 bullrun), also it a lower point of the downtrend channel. - I give 65% probability to that scenario.
Please don't forget to like if you like the idea :) Thanks a lot!
First of all, I'm sorry for a less activity on TradingView for a long time. Let's take a look at what is waiting for us for the next year.
We see that the Rising wedge was broken at $3955. Also, it was a dead crossover for EMAs.
Now we have 2 scenarios.
1) inverted Head and Shoulder. For validation of that pattern, It has to bounce from the trendline (blue), it is near 0.5 FIB ($3630-$3670), Then can retest 4400-4700 again - The probability of that scenarios is 35%
2) Retesting 2900-3000 (which the strong support zone of 2017 bullrun), also it a lower point of the downtrend channel. - I give 65% probability to that scenario.
Please don't forget to like if you like the idea :) Thanks a lot!
Comment:
Bounced from 0.5 FIb as I expected, now we have to see how strong was that bounce.
Trade active
Comment:
We are waiting for iH&S . But I have doubt that it will form that. Let's see.
Comment:
Seems it got support at 0.618 FIB and trying to form a huge iH&S pattern. BTC has to stay above 0.382 FIB ($3750), then it will be easy for bulls to push it up.
Comment:
Comment:
iH&S is in play.
Comment:
