Double Bottom Formation or crash till 40K? #BTCUSDT
On last days the leader crypto currency made some serious correction's on the price and it was on verge of a breakout but ....
Where to go ? Rise or Fall?
Our initial guess is the double bottom formation when we look at the chart ....
But every coin have 2 sides ....
Also we don't recommend you to make trades with bitcoin because the volatility of the BTC is low ,it cannot generate a significant profit just like the previous years.
Therefore our assumption for BTC is only that it can be used as reference on the trading sessions for other crypto currencies.
As you know there is a correlation effect in the market, if BTC rise every coin will rise , if BTC will fall every coin is also follow its fall.
Without further ado here is our thoughts on the leading currency.
P.S : it was not a investment advice , please use stop loss on your every trade.
1 - The BTC can made a double bottom formation and price can rise till 60 k ,
Why ? because every trader know that if you want to make a profit you have to buy on dip and sell on the highest peak.
2 - The support of 45 K can't hold and with panic sells the BTC price can fall till 40 K support zone.
The psychology of the market have a greater effect on the price levels therefore please monitor your investments carefully.
We appreciate if you like , share and give us your comments on the idea, thank you for your time.
Good luck and good hunt.
Where to go ? Rise or Fall?
Our initial guess is the double bottom formation when we look at the chart ....
But every coin have 2 sides ....
Also we don't recommend you to make trades with bitcoin because the volatility of the BTC is low ,it cannot generate a significant profit just like the previous years.
Therefore our assumption for BTC is only that it can be used as reference on the trading sessions for other crypto currencies.
As you know there is a correlation effect in the market, if BTC rise every coin will rise , if BTC will fall every coin is also follow its fall.
Without further ado here is our thoughts on the leading currency.
P.S : it was not a investment advice , please use stop loss on your every trade.
1 - The BTC can made a double bottom formation and price can rise till 60 k ,
Why ? because every trader know that if you want to make a profit you have to buy on dip and sell on the highest peak.
2 - The support of 45 K can't hold and with panic sells the BTC price can fall till 40 K support zone.
The psychology of the market have a greater effect on the price levels therefore please monitor your investments carefully.
We appreciate if you like , share and give us your comments on the idea, thank you for your time.
Good luck and good hunt.
Trade closed: target reached