BitcoinPanjang
Why next week is so important for Bitcoin?
Hello there, Here you can see in the weekly time frame, BTC has formed a head and shoulders pattern. and currently is at the neckline. Breaking out the neckline needs a weekly close above 13500 level that leads BTC to the target of H&S which is 20k. Besides next weekly candle will be the last one before October monthly candle close. doesn't need to mention that BTC is very bullish as if the monthly candle closes here or anywhere above 11700, that would be the 2nd highest monthly close of Bitcoin history which is a super bullish sign and it's just a beginning of a bull run.
So in case of break out, my strategy is that I'll go for a nice long setup after a pull back to the neckline with target at 20k and SL below 12K which also provides us a good risk to reward ratio.
But my personal feeling despite TA is that BTC will continue to consolidate below 13k till the US election, and it won't break the neckline till then.
***Please note that this is not a financial advice, Before taking any action do your own research and do it at your own risk***
Be Profitable & Good Luck $$$
So in case of break out, my strategy is that I'll go for a nice long setup after a pull back to the neckline with target at 20k and SL below 12K which also provides us a good risk to reward ratio.
But my personal feeling despite TA is that BTC will continue to consolidate below 13k till the US election, and it won't break the neckline till then.
***Please note that this is not a financial advice, Before taking any action do your own research and do it at your own risk***
Be Profitable & Good Luck $$$
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.
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.