M pattern, at the bottom of a bearish trend, tends to signal a continuation of a bearish trend.
IN line with BTC's M pattern on the smaller time frame and the potential of M pattern on the weekly for BTC I make this.
I think it will be a rejection from the neckline but we have to watch for confirmations.
If it is rejected from the M neckline we should also watch for a higher low around the pink trend line which would signify a return to the upside.
I hope this helps you see what we're going against. Some good options here. Depending on how BTC reacts around its necklines, it could be bearish or bullish.
I'm still learning but this is something I see, please don't follow it, is just for me to get feedback from those that are better.
My last idea actually missed a key area and my shape was invalid because of wicks, so just bare that in mind, i am a very basic trader
IN line with BTC's M pattern on the smaller time frame and the potential of M pattern on the weekly for BTC I make this.
I think it will be a rejection from the neckline but we have to watch for confirmations.
If it is rejected from the M neckline we should also watch for a higher low around the pink trend line which would signify a return to the upside.
I hope this helps you see what we're going against. Some good options here. Depending on how BTC reacts around its necklines, it could be bearish or bullish.
I'm still learning but this is something I see, please don't follow it, is just for me to get feedback from those that are better.
My last idea actually missed a key area and my shape was invalid because of wicks, so just bare that in mind, i am a very basic trader
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