Hello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin (BTCUSD), a cryptocurrency.
Quick Analysis:
1) This analysis is short-term and shows the Double Bottom Pattern Breakout Potential to around the $56K-$57K.
2) If price moves to that target, be ready for a potential Dead Cat Bounce scenario or Bull Trap scenario to happen. This is using the Fibonacci Extension levels.
3) The RSI (relative strength index) is being supported by a trendline.
4) The chart has many of the notes. Please read thoroughly.
5) Remember this is just a scenario of what could happen. Anything is possible.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Quick Analysis:
1) This analysis is short-term and shows the Double Bottom Pattern Breakout Potential to around the $56K-$57K.
2) If price moves to that target, be ready for a potential Dead Cat Bounce scenario or Bull Trap scenario to happen. This is using the Fibonacci Extension levels.
3) The RSI (relative strength index) is being supported by a trendline.
4) The chart has many of the notes. Please read thoroughly.
5) Remember this is just a scenario of what could happen. Anything is possible.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Nota
Concerning to see the price drop around $50K. Possibly H&S pattern in forming. DYOR.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.