BTCUSDT UPDATE:
YO mates, hope you are all doing well
#BTC is now trading around $44100
Bitcoin is forming a double top pattern on the daily time frame
So the Possible scenario is If the double top pattern plays and there is a price reversal then we can see a dump in the price and the price can go towards the lower support zone ($40000 zone)
If the price transcends $44750 then the pattern is cancelled and another rally is on the way
The real question is, should we short #BTC or not
My answer is (based on fundamental and technical analysis), BTC may have a small pull back, this will get rid of any hesitation in the market and opens an opportunity for buyers to step in
The best price to buy #BTC depends on whether $44000 is transcended or $40000 is reached
I will definitely NOT short #BTC at the moment, but wait for the market to settle to limit buy at $40000.
NOTE:
This is not a financial advice!, my idea is based on market analysis and self intuition according to 5 years experience in trading
YO mates, hope you are all doing well
#BTC is now trading around $44100
Bitcoin is forming a double top pattern on the daily time frame
So the Possible scenario is If the double top pattern plays and there is a price reversal then we can see a dump in the price and the price can go towards the lower support zone ($40000 zone)
If the price transcends $44750 then the pattern is cancelled and another rally is on the way
The real question is, should we short #BTC or not
My answer is (based on fundamental and technical analysis), BTC may have a small pull back, this will get rid of any hesitation in the market and opens an opportunity for buyers to step in
The best price to buy #BTC depends on whether $44000 is transcended or $40000 is reached
I will definitely NOT short #BTC at the moment, but wait for the market to settle to limit buy at $40000.
NOTE:
This is not a financial advice!, my idea is based on market analysis and self intuition according to 5 years experience in trading
