Bitcoin Going to retest it's neckline before further upside
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Bitcoin has fallen after making recent high somewhere 31000. It has given almost more than 100% upside from recent lows. We have seen this roller coaster drive in last few months but in this Bitcoin has formed Inverse Head and Shoulder Pattern, and it has given proper breakout of it's neckline area now it is coming to retest this neckline area before any further move for upside. Well this is healthy correction, after this huge rally from down level there is always profit booking comes.
Now what next?
According to Chart pattern it should come to retest it's neckline area which is 25k somewhere and could take a bounce back from those level, well if it is doing as it is then that will be the best area to long for the target of 35k plus. In Weekly timeframe price is above 200-D EMA line, which is a signal of bullishness in bitcoin. We can only see disaster if it's breaking down 23k and sustain those levels in downside. But chances are very less as we seen Proper Inverse Head & Shoulder pattern at down.
So this was my Analyse on BITCOIN(btcusdt) If anyone likes then please press the like, and follow button and also comment and let me know your view on this.
Thankyou:))
Now what next?
According to Chart pattern it should come to retest it's neckline area which is 25k somewhere and could take a bounce back from those level, well if it is doing as it is then that will be the best area to long for the target of 35k plus. In Weekly timeframe price is above 200-D EMA line, which is a signal of bullishness in bitcoin. We can only see disaster if it's breaking down 23k and sustain those levels in downside. But chances are very less as we seen Proper Inverse Head & Shoulder pattern at down.
So this was my Analyse on BITCOIN(btcusdt) If anyone likes then please press the like, and follow button and also comment and let me know your view on this.
Thankyou:))
Nota
Bitcoin has retested their neckline, now it should shoot up from here.Nota
And let me tell you this is the best level to take long entry,,accumulate more in zone of 23k to 26kNota
Nota
Nota
Bitcoin has just made new 52 weeks highs today.Nota
Rahul Pal (Indian Moderator)
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(Full Time Trader & Investor)
Join Free telegram t.me/TraderRahulPal1
For Live Streaming join youtube.com/@realbullstrading26
Learning Stock Market and Trading Programmes.
Whatsapp:- 9560604457
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