Hi,
Downwards trend continues in the short term.
Possible BTC/USD upcoming head and shoulders reversal with retest of the 42k support line.
It is not financial advise and merely my own analysis.
Make sure to DYOR, as always.
Looks like a repeat pattern to me.
Follow me on my journey to trading.
I spent a year trading off my personal demo accounts in both crypto and forex.
I have since been using my own money to trade since the pandemic and have made enough profits to be a confident trader.
Also BUY FLOW COIN ON KRAKEN WITH EUROS NOW AND THANK ME LATER
Hello to you all. Mars Signals team wishes you high profits at all times.
As you can see in the chart, the price is forming a head-and-shoulder pattern. We need to wait to see if the price will be able to break the line so that our scenario will be formed completely.
Yet, there is still the chance that the price will break the upper green line and go up.
However,...
Descending triangle.
Textbook: bearish
Short term: bearish
Long term: I believe BNB to be bullish
All depends on BTC.
Wait for breakout to confirm trend.
Not financial advise
I am not an expert, just my opinion.
Feel free to comment your views.
Falling wedge pattern
Bullish pattern
Textbook: bullish breakout 2⁄3 more likely
Wait for breakout to confirm trend
Forecast ≠ guarantee
Key support ≈ $1
Higher timeframe = safer
Not financial advise.
I am not an expert, just my opinion.
Feel free to share your views.
Good luck everyone!
Below in this Linked Related Idea (sorry if the charts a little messy too much analysis over the years) - we see that History does in fact repeat its self. The second flag pattern is coming to an end transitioning to the next leg up ? - However there's still room for down side.
Currently buyer interest is increasing and RSI Daily TF is showing a slow shift in...
1:8 risk to reward ratio. Price seems to have formed a head and shoulders, and is now breaking/retesting the neckline of this pattern. Expecting a rejection of this support now turned to resistance, and some nice bearish momentum. Let's see how it plays out⏳
Textbook: wait for breakout to confirm trend.
Careful not to FOMO as triangles might have fake breakouts.
Higher timeframes = safer.
Not financial advise.
I am not an expert, just my opinion.
Feel free to share your views in the comments.
Price coming into previous resistance level to potentially reject and push towards the upside, 2x tested dynamic support as well as 61.8 fibonacci level acting as confluence for buy trade.
Fib level as well as strong support and resistance, looks like price is starting to go long in the one hour chart around the previous support. However price might be lower and bounce of the strong resistance. I will be waiting for price to go lower or for price to give confirmation at the current price
NOT FINANCIAL ADVICE.
