Bitcoin Slinpshot move
Hello traders!
Previously I told you that when the BTC will drop it will scare Whales and institutional traders and now they have started panic selling and as a reaction, we saw more dips.
It's a wrong decision by them and soon they will buy again at a higher price.
Let's talk about patterns and their strength
Every pattern has some kind of strength and a pattern can't do more than its strength. It's like whenever a pattern is formed it's formed for a mission. Once the task is done then the strength of the pattern will fade away.
The pattern x is the set of multiple patterns which are joined together for more strength, By looking at the task they have done i can say it was impossible for a single pattern to do that. They joined multiple patterns to do the job and the job was to break the Jan 2022 low.
Now, why does BTC use the strength of multiple patterns? The reason for this is that if there was a single pattern like head and shoulder pattern or rising channel or crown pattern or some kind of another pattern then it was 100% sure that the strength of that pattern was supposed to fade away after breaking 24-Feb 2022 low and there was no chance that it was able to break jan 2022 lows. But After accumulating the strength it managed to drop below 32950 support.
Now i am sure that the strength of these patterns will fade away and the market will form a strong bullish pattern below the strong support and it will aim to break the 40,000 resistance.
The pattern after the breakout of pattern x is stretched like a slingshot and if the aim is correct then it can skip many resistances and can land above 50K
Thanks for all your support and like.
Don't forget to hit the like button and follow to stay connected.
Previously I told you that when the BTC will drop it will scare Whales and institutional traders and now they have started panic selling and as a reaction, we saw more dips.
It's a wrong decision by them and soon they will buy again at a higher price.
Let's talk about patterns and their strength
Every pattern has some kind of strength and a pattern can't do more than its strength. It's like whenever a pattern is formed it's formed for a mission. Once the task is done then the strength of the pattern will fade away.
The pattern x is the set of multiple patterns which are joined together for more strength, By looking at the task they have done i can say it was impossible for a single pattern to do that. They joined multiple patterns to do the job and the job was to break the Jan 2022 low.
Now, why does BTC use the strength of multiple patterns? The reason for this is that if there was a single pattern like head and shoulder pattern or rising channel or crown pattern or some kind of another pattern then it was 100% sure that the strength of that pattern was supposed to fade away after breaking 24-Feb 2022 low and there was no chance that it was able to break jan 2022 lows. But After accumulating the strength it managed to drop below 32950 support.
Now i am sure that the strength of these patterns will fade away and the market will form a strong bullish pattern below the strong support and it will aim to break the 40,000 resistance.
The pattern after the breakout of pattern x is stretched like a slingshot and if the aim is correct then it can skip many resistances and can land above 50K
Thanks for all your support and like.
Don't forget to hit the like button and follow to stay connected.
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