BTC POSSIBLE SCENARIO! MUST BOUNCE FROM HERE!!
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Welcome to this BTC/USDT update. First of all do not panic guys this is just a normal correction. BTC once again rejecting from the $45k resistance and now again trying to test the $40k-$41k support.
Here I see a Inverse H&S pattern scenario in 6hr time frame but for successfully playing out this scenarios BTC must hold the $41,300 level and bounce from here.
Also, we have a 100ma strong support is here so IMO BTC should bounce from here. Although, we might see some wicks below the $41,300 level but as long as it stays above 100 ma there are chances that we got a good bounce.
If this scenario played out perfectly and breaks the neckline of Inverse H&S then we will see BTC at $58k. As of now let's wait and see how next 6hrs candle closes.
Also, remember war is still going on and anything could happen so always be prepared for the worst. Don't do trading without a strict stop loss.
Invalidation level:- If 6hr candle closes below 100ma or $41,200 than this chart become invalidated.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this BTC/USDT update. First of all do not panic guys this is just a normal correction. BTC once again rejecting from the $45k resistance and now again trying to test the $40k-$41k support.
Here I see a Inverse H&S pattern scenario in 6hr time frame but for successfully playing out this scenarios BTC must hold the $41,300 level and bounce from here.
Also, we have a 100ma strong support is here so IMO BTC should bounce from here. Although, we might see some wicks below the $41,300 level but as long as it stays above 100 ma there are chances that we got a good bounce.
If this scenario played out perfectly and breaks the neckline of Inverse H&S then we will see BTC at $58k. As of now let's wait and see how next 6hrs candle closes.
Also, remember war is still going on and anything could happen so always be prepared for the worst. Don't do trading without a strict stop loss.
Invalidation level:- If 6hr candle closes below 100ma or $41,200 than this chart become invalidated.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
In 1hr time frame, BTC is trading inside a falling wedge channel and currently bouncing from the lower trendline. I'm expecting a good bounce from here till $48k
But if BTC breaks below this wedge then we might test $38k-$39k