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#BTC #BITCOIN #bitcoinusa #cryptocurrencies
#binary #bitcoinminning #forexlifestylet#investing#binaryoptions#bitcoincash#crypto#cryptotrading
The price of bitcoin (BTCUSD) is showing a downtrend in a secondary descending channel that appears on the chart above, which we believe is forming a continued bull flag pattern, meaning a breakout of resistance 43830.00 will activate the positive effect of this pattern and then push the price to resume the main uptrend, remembering that our next target reaches 45030.00.
Therefore, we will continue to favor the uptrend for the coming period, paying attention that a break of 43000.00 stops the expected rise and weighs on the price to move lower in the short term.
The forecasted trading range for this day is between support 43000.00 and resistance 44200.00.
#binary #bitcoinminning #forexlifestylet#investing#binaryoptions#bitcoincash#crypto#cryptotrading
The price of bitcoin (BTCUSD) is showing a downtrend in a secondary descending channel that appears on the chart above, which we believe is forming a continued bull flag pattern, meaning a breakout of resistance 43830.00 will activate the positive effect of this pattern and then push the price to resume the main uptrend, remembering that our next target reaches 45030.00.
Therefore, we will continue to favor the uptrend for the coming period, paying attention that a break of 43000.00 stops the expected rise and weighs on the price to move lower in the short term.
The forecasted trading range for this day is between support 43000.00 and resistance 44200.00.
How to Identify a Trend Reversal?
Three White Soldiers is a powerful candlestick pattern that can be a key to successful trading in financial markets.
📈 Candle Formation: Candle Formation: The Three White Soldiers pattern consists of three consecutive bullish candles.
✴️ Upper Shadow of the Second Candle: It indicates that prices initially fell below the opening but then sharply rose and closed near the high.
📍 Opening and Closing of the Second and Third Candles: The second candle closes above the close of the first, and the third candle closes above the open of the second. This signals a shift in sentiment from bearish to bullish.
💡 Encountering Three White Soldiers after a prolonged downtrend may indicate a possible trend reversal to the upside. This could be a signal for "UP" trading or for closing short positions.
Remember, for trend confirmation and to increase the probability of a successful trade, it's always wise to use additional indicators and confirmations!
#BinaryXCommunity
#binaryoptions
#binary
#BinaryX
Three White Soldiers is a powerful candlestick pattern that can be a key to successful trading in financial markets.
📈 Candle Formation: Candle Formation: The Three White Soldiers pattern consists of three consecutive bullish candles.
✴️ Upper Shadow of the Second Candle: It indicates that prices initially fell below the opening but then sharply rose and closed near the high.
📍 Opening and Closing of the Second and Third Candles: The second candle closes above the close of the first, and the third candle closes above the open of the second. This signals a shift in sentiment from bearish to bullish.
💡 Encountering Three White Soldiers after a prolonged downtrend may indicate a possible trend reversal to the upside. This could be a signal for "UP" trading or for closing short positions.
Remember, for trend confirmation and to increase the probability of a successful trade, it's always wise to use additional indicators and confirmations!
#BinaryXCommunity
#binaryoptions
#binary
#BinaryX