I drawed Bitcoin most important white diamond decision moment at 4hour chart. As you can see, Bitcoin finally reached a cross created from main uptrend and all time high correction.
In my opinion, in next 2-3 weeks, we will see important breakout and raw truth.
If we want to see bulls in near future, for me I´ve got 3 basic conditions: 1. BTC needs to get above blue line ( EMA 50 ) 2. BTC dominance needs to increase above 55 - 60 % of market 3. BTC can´t dip below lower green dotted line and close 4 hour candle there with next,continue "confirmation" ( red ) candle
If BTC will be capable to break below " head peak " of head and shoulders formation, It´s really possible to reach 786 level of Fibo retracement. So please, be careful , If you trading.
That´s all for now , but check my updates : ) SIncerelly, Mario Emvo.
*This is not a financial advice. *For education purposes only. Please, never trade by my charts.
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BTC breaked below diamond.Now I want to see, if we dip under red dotted line at 4 hour closed candle. If yes, BTC can happen a major sell.
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BTC just touched red line and pull back. I am waiting for stronger green candle as confirmation of reversal point.
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BTC looks to started falling again.
*This is not a financial advice. *For education purposes only. Please, never trade by my charts.
I understand that it is a formation of change of trend, it is a "diamond", if so, when entering the diamond from a downward trend there should go upward
EmVi
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@RodrigoGarreton, Yes, sorry for my English. It´s not my main language : )