BITCOIN analysis update (Daily Chart)
(Inverted Head and Shoulder Pattern)
Focusing on most current price action, we have a small on-going Inverted Head-and-Shoulder pattern formation. We will be expecting the push to the FIB 61.8% zone where we should be expecting good price reaction, before the continuous push to its 100.0% zone after the 61.8% zone is successfully broken to the upside. The ultimate take profit zone is its 161.8% zone.
This pattern is invalidated if price drops and closes below FIB 0.00% zone.
Note that it is not a necessity that price action follows the path drawn but this gives an insight to what is expected.
Kindly note this is not a signal. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
(Inverted Head and Shoulder Pattern)
Focusing on most current price action, we have a small on-going Inverted Head-and-Shoulder pattern formation. We will be expecting the push to the FIB 61.8% zone where we should be expecting good price reaction, before the continuous push to its 100.0% zone after the 61.8% zone is successfully broken to the upside. The ultimate take profit zone is its 161.8% zone.
This pattern is invalidated if price drops and closes below FIB 0.00% zone.
Note that it is not a necessity that price action follows the path drawn but this gives an insight to what is expected.
Kindly note this is not a signal. This article is for educational purpose and not a financial advice. As we know, the cryptoverse is a highly volatile ecosystem. Do your due diligence.
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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.
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.