Possible bearish bat pattern formation
BTC could be forming a classic bearish bat pattern but it still has some more upside until the formation is complete, a zone to look for an long would be around 33k targeting the 40k region.
In case of rejection in the 40k price area expect this pattern to play out, but if it shows strengh and breaks this area I see it as a very bullish signal.
I do not wish for more downside for BTC but this is my unbiased TA looking at this chart right now and it does not look good for the short term at least, long term we are still in an overall bull trend.
Trade this at you own risk as it is only my opinion and not financial advice.
In case of rejection in the 40k price area expect this pattern to play out, but if it shows strengh and breaks this area I see it as a very bullish signal.
I do not wish for more downside for BTC but this is my unbiased TA looking at this chart right now and it does not look good for the short term at least, long term we are still in an overall bull trend.
Trade this at you own risk as it is only my opinion and not financial advice.
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