BTC: Should hold this support!!
Updated
Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#Bitcoin Long Term Technical Analysis:-
In this weekly time frame, BTC is trading inside this rising expanding triangle pattern and is currently at the lower level of this pattern.
Which is at 1428D Strong support BTC must hold this level. If BTC breaks down to this level then 11k to
12K is the next stopping point.
I am accumulating more and if we see more dips, I will buy more.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#Bitcoin Long Term Technical Analysis:-
In this weekly time frame, BTC is trading inside this rising expanding triangle pattern and is currently at the lower level of this pattern.
Which is at 1428D Strong support BTC must hold this level. If BTC breaks down to this level then 11k to
12K is the next stopping point.I am accumulating more and if we see more dips, I will buy more.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Note
In the daily time frame
BTC breakout Desh, descending triangle pattern and It looks like it’s retesting this pattern so technically it’s looking bearish.
Bulls need to close a daily candle above 18.5k to 19K levels to invalidate this pattern.
In case BTC retest this pattern successfully, then According to the pattern it will drop towards the 12K to 10k level.
Note
As Per the historical chart:-
As we can see in the chart first and second bear markets BTC drop -84 to -86% from the top and in this current bear market too we expect an 84% to 86% drop from the top.
If BTC drop according to the calculation then
10k to 11k will be the bottom
So in this bear market, we expect an 84% to 86% drop from the top
Note
#BTCUSDT:- No changes, nothing to update.
Register on Blofin and trade with me: bit.ly/Mojo1000
Free TG Daily Futures Signals: bit.ly/CRYPTOMOJO_TA
Free TG Daily Futures Signals: bit.ly/CRYPTOMOJO_TA
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.