My Prediction Plan of BTC for Correction levels & Chart pattern
Hello Traders,
This is my TA for BTCUSDT based on several indicators used & elaborated in the chart,
The idea is to show out two scenarios i called them small & bigger picture for the current rally:
A) First scenario (Small picture)
As you all know the BTC hits ATH at $67,000.00 and most of the people were expected the continuation of the rally to more than > $70,000.00 but all of sudden the correction begins to take place before any continuation happens,
Therefore, i began to review the charts from different technical prospective and came up with the following:
1. The trend is currently in short duration for correction before it turns to bullish by the next leg up,
- Prev. Trend: It looks for me as (Inversed H & 2S) - Take a look here https://i.ibb.co/q18s2dR/Inversed-H-2-S.png
- Expected Correction Levels: (14-25%)
- Expected Correction Price level: ($56,000 - $59,500)
2. The bullish trend and price line has been elaborated with price note tools in the chart and during bullish rally BTC will faces multiple corrections as assumption of the correction price levels i have used a bar pattern in the same chart (you can review it),
3. During the correction faces the price will be consolidating in higher price zones before each bullish rally take places
B) Bigger picture,
As attached in my TA below i can tell that there is a big chart pattern are begin created in BTC chart that is very popular and called (Cup & Handle) pattern.
Where the (CUP) pattern established since previous old ATH (April 14th 2021) until (October 20th 2021) and currently we are in the (HANDLE) that were started in the correction phase right after the new ATH (October 21th 2021).
You need to know one thing that the (HANDLE) pattern doesn't last long before the trend broke the resistance level and turn bullish.
Dates highlighted in the chart are my own expectation for beginning of the bullish rally to new ATH for each date,
That's its for now & Remember as always to do your own studies before you taken any decision & this is not a financial advise.
I hope the best for everyone.
This is my TA for BTCUSDT based on several indicators used & elaborated in the chart,
The idea is to show out two scenarios i called them small & bigger picture for the current rally:
A) First scenario (Small picture)
As you all know the BTC hits ATH at $67,000.00 and most of the people were expected the continuation of the rally to more than > $70,000.00 but all of sudden the correction begins to take place before any continuation happens,
Therefore, i began to review the charts from different technical prospective and came up with the following:
1. The trend is currently in short duration for correction before it turns to bullish by the next leg up,
- Prev. Trend: It looks for me as (Inversed H & 2S) - Take a look here https://i.ibb.co/q18s2dR/Inversed-H-2-S.png
- Expected Correction Levels: (14-25%)
- Expected Correction Price level: ($56,000 - $59,500)
2. The bullish trend and price line has been elaborated with price note tools in the chart and during bullish rally BTC will faces multiple corrections as assumption of the correction price levels i have used a bar pattern in the same chart (you can review it),
3. During the correction faces the price will be consolidating in higher price zones before each bullish rally take places
B) Bigger picture,
As attached in my TA below i can tell that there is a big chart pattern are begin created in BTC chart that is very popular and called (Cup & Handle) pattern.
Where the (CUP) pattern established since previous old ATH (April 14th 2021) until (October 20th 2021) and currently we are in the (HANDLE) that were started in the correction phase right after the new ATH (October 21th 2021).
You need to know one thing that the (HANDLE) pattern doesn't last long before the trend broke the resistance level and turn bullish.
Dates highlighted in the chart are my own expectation for beginning of the bullish rally to new ATH for each date,
That's its for now & Remember as always to do your own studies before you taken any decision & this is not a financial advise.
I hope the best for everyone.