Hey all!
BTC/USDT pair has previously formed a bullish SHARK pattern on the 4-hour chart. We got an initial reaction. Then, the reversal seemed to fail, but it didn't and we saw a strong bounce upward.
NOW, Bitcoin seems forming a possible BEARISH SHARK pattern on the 4-hour chart. $10,800 - $11,000 zone is the POTENTIAL REVERSAL ZONE (PRZ). It should be watched very carefully.
If pattern forms, the first price target for Bitcoin is $10,500 level. This is a very critical support in general. If we break this level, there is a possibility of a vague BEARISH Head-and-Shoulders pattern formation to be watched. If it forms and there is a more downside to come. Honestly, it complements my other Bitcoin analysis in which I predict an initial price drop to $9,150 level.
But, be careful! The bearish shark pattern hasn't formed yet.
Appreciate constructive feedback! Have a great weekend!
BTC/USDT pair has previously formed a bullish SHARK pattern on the 4-hour chart. We got an initial reaction. Then, the reversal seemed to fail, but it didn't and we saw a strong bounce upward.
NOW, Bitcoin seems forming a possible BEARISH SHARK pattern on the 4-hour chart. $10,800 - $11,000 zone is the POTENTIAL REVERSAL ZONE (PRZ). It should be watched very carefully.
If pattern forms, the first price target for Bitcoin is $10,500 level. This is a very critical support in general. If we break this level, there is a possibility of a vague BEARISH Head-and-Shoulders pattern formation to be watched. If it forms and there is a more downside to come. Honestly, it complements my other Bitcoin analysis in which I predict an initial price drop to $9,150 level.
But, be careful! The bearish shark pattern hasn't formed yet.
Appreciate constructive feedback! Have a great weekend!
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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.