BITCOIN Bullish Pennant 1D
What's up Everyone! 😃
Hope you are all having a successful day!
Just wanted to drop a quick bullish pattern which is developing on the BTCUSDT 1D chart.
Although it is a bullish pattern, we can still re-visit the 42k area before we find a bounce and potentilly continue to make higher lows and also higher highs again and potentially break the resistance of the ascending channel and the trend highs around 45.5k to 46k.
The second and slightly less bullish option would be to break to the downside of the symmetrical triangle, and then test the support of the ascending channel around 40k before we bounce back to the previously mentioned targets.
The 40k to 39k level would be our last realistic chance to bounce back and continue our current uptrend,if we fall below it is likely that we could form a double bottom around 33k or go even lower to about 31k-29k.
I would like to add that this is for educational purpose only and is in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advice.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like, comment or follow if you like my content! Every engagement puts a smile on my face, but also helps for my ideas to be seen! 😃🙏
Happy Trading ✌♥📈
Hope you are all having a successful day!
Just wanted to drop a quick bullish pattern which is developing on the BTCUSDT 1D chart.
Although it is a bullish pattern, we can still re-visit the 42k area before we find a bounce and potentilly continue to make higher lows and also higher highs again and potentially break the resistance of the ascending channel and the trend highs around 45.5k to 46k.
The second and slightly less bullish option would be to break to the downside of the symmetrical triangle, and then test the support of the ascending channel around 40k before we bounce back to the previously mentioned targets.
The 40k to 39k level would be our last realistic chance to bounce back and continue our current uptrend,if we fall below it is likely that we could form a double bottom around 33k or go even lower to about 31k-29k.
I would like to add that this is for educational purpose only and is in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advice.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like, comment or follow if you like my content! Every engagement puts a smile on my face, but also helps for my ideas to be seen! 😃🙏
Happy Trading ✌♥📈
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