BTCUSDT Binance - Approaching support, but H&S Target is lower
BTCUSDT Binance - Approaching support, but H&S Target is lower
You can see we have two channels, one in an uptrend and another one in a downtrend.
As we lost the Local GP and the previous pivot, we're almost at 0.786 fib level of the move from 28k to 69k. We could see a potential bounce play, but the Head & Shoulders target is again at 28k...
That target very much aligns with the uptrend channel lower border so, BTC can potentially stop right there. This area will also be the Main Golden Pocket from March 2020 massive dump to All-Time High.
The FUD is crazy, and Russia's crypt ban is not helping at all so, I would urge caution for now, but I'm sure that the asset is still strong and will recover in the long term.
I will be buying the uptrend channel border and the H&S target (green line) as I truly believe there will be a bounce there.
Lastly, the RSI is oversold, and Stoch RSI approaches the bottom.
Plan the trade, and trade the plan level by level!
You can see we have two channels, one in an uptrend and another one in a downtrend.
As we lost the Local GP and the previous pivot, we're almost at 0.786 fib level of the move from 28k to 69k. We could see a potential bounce play, but the Head & Shoulders target is again at 28k...
That target very much aligns with the uptrend channel lower border so, BTC can potentially stop right there. This area will also be the Main Golden Pocket from March 2020 massive dump to All-Time High.
The FUD is crazy, and Russia's crypt ban is not helping at all so, I would urge caution for now, but I'm sure that the asset is still strong and will recover in the long term.
I will be buying the uptrend channel border and the H&S target (green line) as I truly believe there will be a bounce there.
Lastly, the RSI is oversold, and Stoch RSI approaches the bottom.
Plan the trade, and trade the plan level by level!
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.