After a massive selloff we are entering in a bullish Market in the daily chart.
It is too early to call for a Head and Shoulders pattern, but you can see that, it seems that after the failed H&S formation of March 5, it start forming a new one, the Right shoulder which failed and ended in a bearish run, appears to be the Left shoulder of the new formation.
Also you can see that at this moment BTC is in a critical support which is the downtrend line of the long term bearish market we have been in since BTC achieved ATH, and it is also trading at $9.2K (the purple line), which has been a very strong resistance price in the past.
If we continue the bullish run, it is very possible to see BTC jumping over $11K level in the next week to start forming the right shoulder. If the pattern goes as it is forecasted in the chart, next step for BTC will be the $15K, this will be a very clear confirmation that we are in a new long term bullish trend.
Trade safely.
It is too early to call for a Head and Shoulders pattern, but you can see that, it seems that after the failed H&S formation of March 5, it start forming a new one, the Right shoulder which failed and ended in a bearish run, appears to be the Left shoulder of the new formation.
Also you can see that at this moment BTC is in a critical support which is the downtrend line of the long term bearish market we have been in since BTC achieved ATH, and it is also trading at $9.2K (the purple line), which has been a very strong resistance price in the past.
If we continue the bullish run, it is very possible to see BTC jumping over $11K level in the next week to start forming the right shoulder. If the pattern goes as it is forecasted in the chart, next step for BTC will be the $15K, this will be a very clear confirmation that we are in a new long term bullish trend.
Trade safely.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.