BTCUSDT is consolidating in a symmetrical triangle pattern.
Price got rejected off the symmetrical triangle's inclined resistance and brokedown below the ascending trendline support.
Price is testing the fibonacci retracement levels and we could see a downtrend continuation to the symmetrical triangle's inclined support.
The pullback is supported by an ascending...
Hy dear Members hope you all are enjoying our idea and Analysis. Now we are here to discuss about BTCUSD. BTCUSD is Moving According our Analysis. But we have recorded a correction. Now this is again below the main Trendline here it has maximum Chances that it will drop to the Price level 20k.
Keep in touch we will update further soon.
Second Chance Trade Setup summary:
Profit targets=26% = {TP2 = 1.5% + TP3 = 4.5% + TP4 = 7.5% + TP5 = 12.5%}
Stop Loss =6%
Reward/Risk > 4.3:1
New Trading suggestion:
". There is still a possibility of temporary retracement to suggested support line (32460) again.
if so, traders can set orders based on Price Action and expect to reach short-term targets."
...
Decision time for BTC, do we break over and hold $38k then we can go bullish again targeting $46k
If we get rejected by $38k we can most likely expect sideways between $33k and $38k
Weiss Wave is a clear indicator that shows the demand domination.
In the other hand, in the current m30 range (white color) there is no AR breakout, that indicates there is no supply contribution to balance the price range.
We are now in a momentum to confirm a BUEC from the main H4 range (green color)
Looking forward to see a profitable ef BINANCE:BTCUSDT...
Dear Traders
As can be observed the Zigzag correction pattern could be in play for btcusdt, from here which is considered the end of wave C I can expect 5 legs down to complete the zigzag.
Tp1 : 37580
TP2: 36440
TP3: 33880
TP4 : 31580
Stop Loss: 42890
Goodluck every one
Evident there is some form of current profit taking
2 scenarios:
1. weakness in the market, we loose the bottom of the range at $36300 and it could dip down to $30300 which is the 1.618 retracement from the 2017 ATH to the next lowest point which was in December 2018
while writing this it has bounced strongly from support of $37200 by $1000, which makes scenario...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.0000057). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Stellar/Bitcoin XLMBTC is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a...
Looks like a descending wedge, which is a bullish corrective pattern. Let's see how this plays. May allow for more altcoins to have a party while the BTC wedge concludes.
