Bitcoin approaches Danger Zone

Hello friend,

If we remember from our last analysis, we talk about potential sell off zone for Bitcoin, price is finally here and all attention shifted to the zone.

What come to my mind is potential AB=CD pattern type of correction.

The major reason I choose this correction type is because of its simplicity in applying stop loss. Looking on bigger timeframe shows a potential top to be in on BTC, check this 3days candle chart, it look scary, although it also gave good room for tight stop loss application.

The whole idea is well shown on the chart a BREAK above our leg A invalidated the whole idea.

I will advice not to hold to short when this PATTERN Fail. Get out and wait for re-test to join the BULL.

Let see this as my quick market update and always do your own personal research before taking any trading decision based on my view.

Thanks for reading and staying with us.

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Zlecenie aktywne:

Market is in developmental stage, let see how we close present 8hours candle.

Zlecenie aktywne:

First sign of weakness show as price breakdown the pennant down

Zlecenie aktywne