💎BTC : Again Respected Demand Zone But...
Hello Dear Traders,
In Last post we discussed a triangle chart pattern in which btc is trading from few days. today again btc corrected and found buying pressure exactly at old demand zone.
but on daily time frame btc is bearish. the more btc tests 4hr demand zone, it increases probability to break down.
As i marked swing arrows in chart for demonstration how price trades in triangle. its not necessary to happen exactly as marked , whenever price creates Triangle chart pattern upper and lower trendline continuously pressurize price and due to tht price goes in a tight range and after tht we see massive breakout or breakdown.
in few hours BTC will close weekly candle, after 8 weeks of bullish rally first time we will see bearish candle on btc, also DXY weekly candle is going to close extremely bullish .this indicates DXY will become strong and other respective currencies will become weak.
after weekly candle closing will post analysis of tht.
In Last post we discussed a triangle chart pattern in which btc is trading from few days. today again btc corrected and found buying pressure exactly at old demand zone.
but on daily time frame btc is bearish. the more btc tests 4hr demand zone, it increases probability to break down.
As i marked swing arrows in chart for demonstration how price trades in triangle. its not necessary to happen exactly as marked , whenever price creates Triangle chart pattern upper and lower trendline continuously pressurize price and due to tht price goes in a tight range and after tht we see massive breakout or breakdown.
in few hours BTC will close weekly candle, after 8 weeks of bullish rally first time we will see bearish candle on btc, also DXY weekly candle is going to close extremely bullish .this indicates DXY will become strong and other respective currencies will become weak.
after weekly candle closing will post analysis of tht.
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