Hello everyone this is my idea for Bitcoin on daily time frame ..
There is two scenarios that is unfolding .. bearish and bullish ..
Bullish scenario and why
Black line is holding as support .. and a reverse head and shoulder pattern could be unfolding if these conditions are met
First black line hold as support ( no 4 hour candle close below )
RSI price get above black line to confirm this thesis ..
We buy from black line to target 385000 .. stop loss 4 hour candle close below black line
Chart below show the pattern unfolding ..
Bearish scenario .. and why
If 4 hour candle close below black line .. we open a short to target zone below .. as show in the chart ..
our stop loss is 4 hour candle close above black line ..
for any question feel free to ask :)
There is two scenarios that is unfolding .. bearish and bullish ..
Bullish scenario and why
Black line is holding as support .. and a reverse head and shoulder pattern could be unfolding if these conditions are met
First black line hold as support ( no 4 hour candle close below )
RSI price get above black line to confirm this thesis ..
We buy from black line to target 385000 .. stop loss 4 hour candle close below black line
Chart below show the pattern unfolding ..
Bearish scenario .. and why
If 4 hour candle close below black line .. we open a short to target zone below .. as show in the chart ..
our stop loss is 4 hour candle close above black line ..
for any question feel free to ask :)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.