Hi dear patrons, hope you are well and welcome to the new trade setup of Bitcoin ( BTC ).
In reference to my previous idea on BTC:
It is still possible that the BTC may recover back and move above $36K to re-enter the buying zone of the aforementioned harmonic pattern, however, as recently on the daily time period, it has broken down a falling wedge.
Therefore, on the same weekly time frame, It is confirming a bigger bullish Cypher pattern. There is also a hidden bullish divergence on the chart. We also have 100 weekly simple moving average strong support and it is at $31349 at the time of writing.
The buying and sell targets for this cypher move are as below.
Buy between: $36101 to $28805
Sell between: $46339 to $57167
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
In reference to my previous idea on BTC:
It is still possible that the BTC may recover back and move above $36K to re-enter the buying zone of the aforementioned harmonic pattern, however, as recently on the daily time period, it has broken down a falling wedge.
Therefore, on the same weekly time frame, It is confirming a bigger bullish Cypher pattern. There is also a hidden bullish divergence on the chart. We also have 100 weekly simple moving average strong support and it is at $31349 at the time of writing.
The buying and sell targets for this cypher move are as below.
Buy between: $36101 to $28805
Sell between: $46339 to $57167
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade