3.Btc time to rise again

-

Btc/Usdt

Btc bounce up from trendline support

!Now we can see momentum green candle broke out the 3rd falling wedge in this triangle pattern

All we need is this 4h candle to close like that for more confirmations

Next target should be test around 38k-39k again as a first resistance and breakout will test strong resistance between 41-42k as a 2nd resistance

*invalidation for this idea breakdown recent low at 34800

Don't forget to like my blog for more good calls and analysis

Comments

Post a Comment

Popular posts from this blog

HEAD AND SHOULDERS PATTERN

-
Image
Head and Shoulders pattern The head and shoulders pattern can be either head and shoulders, top or head and shoulders bottom. The Charts are a picture of a head and shoulders movement, which portrays three successive rallies and reactions with the second one making the highest/lowest point.  3.2.1 Head and Shoulders (Top reversal) A Head and Shoulders (Top) is a reversal pattern which occurs following an extended uptrend forms and its completion marks a trend reversal. The pattern contains three successive peaks with the middle peak (head) being the highest and the two outside peaks (shoulders) being low and roughly equal. The reaction lows of each peak can be connected to form support, or a neckline As its name implies, the head and shoulders reversal pattern is made up of a left shoulder, head, right shoulder, and neckline. Other parts playing a role in the pattern are volume, the breakout, price target and support turned resistance. Lets look at each part individually, and then put
Read more

5 USEFUL POSITION TIPS FOR TRADING

-
  5 USEFUL POSITION TIPS FOR TRADING • USE FUNDAMENTAL UPDATES TO GAIN A STRONG UNDERSTANDING OF MARKET DIRECTION • ONLY USE KEY LEVELS THAT PRICE HAS RESPECTED FIVE OR MORE TIMES AS SUPPORT/RESISTANCE • USE RISK/REWARD RATIOS OF 15 OR HIGHER • USE THE 200 EMA TO HELP DETERMINE TREND . CONSIDER THE BUY & HOLD METHOD FOR BULLISH INDICES AND CRYPTO
Read more

Fibonacci fan explained

-
Image
 A Fibonacci fan is a chart construction technique used in technical study that uses the Fibonacci interaction to graphically predict support and resistance levels.  The Fibonacci quantity can be used to explain the proportions in things, from the smallest building blocks of nature, such as atoms, to the most advanced patterns in the world, such as unimaginably monumental celestial bodies. Nature relies on this inborn proportion to preserve equality, but financial markets also seem to adapt to this "golden ratio!  Understanding Fibonacci fans  Fibonacci fans are sets of sequential trend lines drawn from a valley or peak by means of a group of views dictated by Fibonacci retracements. To create them, a trader draws a trend line from which to base the fan, which primarily covers the low and high costs of a cost over a defined period of time.  To achieve the retracement levels, the trader divides the cost difference at the lower and preeminent end by the proportions determined by the
Read more