Three White Soldiers pattern at the bottom suggests a potential
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Your TA looks solid, and the Three White Soldiers pattern at the bottom suggests a potential reversal to the upside. However, let’s break it down:
Bullish Case: 1. Three White Soldiers Pattern – This is a strong bullish reversal signal, especially after a prolonged downtrend. 2. Support Held at ~0.603 – The price reacted well from this level, forming a double-bottom structure. 3. Resistance at 0.965 – The first target should be around this level before looking at 1.4. 4. Volume Confirmation? – If increasing volume follows this pattern, it strengthens the case for an uptrend.
Bearish/Risky Case: 1. Overall Trend Still Down? – Despite the pattern, the overall structure is still bearish unless it breaks key resistances. 2. Low Market Momentum? – If the broader market is weak, this bounce could be a short-lived relief rally before another drop. 3. Liquidity Around 0.85 – 0.965 – A lot of sell-side pressure might come in at these levels.
Verdict: • If volume picks up and BTC remains stable, I’d expect a move to 0.965 first, then possibly 1.4. • If rejection happens below 0.85, market weakness prevails, and we retest 0.603 or even lower.
Let me know if you want a more detailed breakdown or alternative scenarios. 🚀
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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.