We saw a decrease momentum in the downtrend.
after a series of LH LL LH LL , LH and Higher low
With the formation of a new Higher high , the scenario is confirmed
If the new swing High was created below the Violet line, the uptrend scenario will not be valid.
we are going to run plan B.
thanks for you like and comments
Bullish Pattern forming on BTC,
Currently bounced on 0.5 Fib retracement level from previous high to low which also coincides with the 50 MA on the weekly .
The top of the white box is the 0.5 Fib the bottom is the 0.618 , I am expecting this area to be a buy zone for a side ways movement,
We can also see that 10500 mark - blue resistance line - forming a...
As mentioned on previous study we are completing that reverse head and shoulders bottom ,
The top of the shoulders along with the neckline form a right angled broadening wedge that we are trying to break out at the moment
If price accepts these levels I am expecting that measure move marked on chart to take place,
If not then a consolidation back to the...
Reverse Head and Shoulders pattern formed showing two necklines one horizontal - neckline 1 - and one diagonal -neckline 2 - giving two different levels for closing long positions first at 2580 and second at 2640