So much confluence at 39300 - 39600
- 1.618 Reverted fib
- 1.23 extention
- 1.0 double extention
- Bear div at higher TF
Please be aware it could fly aswell
I will take a short position in this range as a hedge ( 26.000 long - 37700 long )
As we can see BTCUSDT on 4h timeframe has formed head and shoulders pattern with an impulsive break of its neckline.
A retest of the neckline and the structure level shown can be expected before a second leg down.
The target has been indicated via the arrow and dotted line.
Dear Traders and Investors,
I made a simple analysis for BTC/USDT perpetual contract
I saw a downtrend in a short term
I reckon you guys to open short at my sign "entry"
and take profit at my sign "Potential Target 1 and 2"
Happy trading y'all
Good luck!
Best,
PS: Please DYOR before entry the market
