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#BTCUSDT $BTC THE U TURN OF BTC The formation of DB at 53xxx stands null and void however the price took the U turn before testing it and breaks 58300. No problem, No entry is also part of trading and also considered as a position like buy or sell. However the FVG of 52-54 is still alive and simply we cannot ignore it. Provided we are still in the D-Channel. The nearest of immediate resistance now is 60500 again. Sma176 D1 TF is also present there. If a candle in H1 TF receives a rejection and closes under it with another bearish candle closing under it acting as a confirmation candle, a Medium Risk Sell entry is there. If a miracle happens, Sma44 Sma176 and the Mid Bone now at 62300, all three came at the same point to resist the price (Even two of them) then it will be a Low Risk Sell. Good Luck ! #Write2Earn!
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#BTCUSDT $BTC DB POSSIBLE PATTERN FORMING IN H4 TF As per observation price breaks 56500 and then came back to retest it. Mean while it was also intimated that it may go into hibernation for a while it happened also. Further we were waiting for the FVG above it to be filled and finally it was filled. Now there is a possible Double Bottom formation is initiating that may lead to price test immediate low of 53xxx level and get support from it making a perfect double bottom there. We have to wait further for two days for its completion and trigger. There are two positions of buys, one at bottom 53xxx and other at the break point 58300. NOTE:- Price may not go exactly as patternized and there is always a space for ups and down ( I keep $300 +/-) for my observations. We can only observe the possibilities to pick a high probability trade. Good Luck ! #Write2Earn!
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#BTCUSDT $BTC BITCOIN AT SIDEWAYS There is no significant pattern to determine the price action rite now. Bitcoin may go into hibernation for a while (Sideways). However it respected our forecasted path and as retracement it came back to retest 56500. The FVGs on both sides are still unfilled as marked in our prev chart. Waiting with patience and discipline is the key to prosperity. Good Luck! #Write2Earn!
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#BTCUSDT $BTC TOO MUCH DISTURBANCE IN BITCOIN As we have indicated that if price breaks 56500 (Due to marked FVG) then it may retest 56500 to get rejection and continue its decline towards 49-50 xxx immediate support. Now price has come exactly as traced in the prev chart and now retesting 56500 but again there is an FVG above it that can make the difference and we may go further above to test our old tested SNR 60500. Waiting with patience and discipline is the key to success. Don't gamble your trade. Good Luck! #Write2Earn!
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#BTCUSDT $BTC BITCOIN UPDATE Straight Stop Loss hit giving no chance to BE. Profit & Loss are the part and parcel of trading. Well, we have already discussed in our prev post that if this support is broken hitting the stop loss at 55500 then waiting for retest at 56500 will be in plan. Also intimated in the prev chart about the FVG shown is playing its part. Price is hovering around it to fill the gap at our new support 49-50xxx. That medium risk sell at 59xxx stands null and void now. Good Luck! #Write2Earn!
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