Hey guys. I've spotted some nice indicators on the BTC charts and they do appear to be lined up well so I feel more confident in more upside continuation.
MACD suggests a small pullback , HOWEVER , RSI is showing some bullish divergence... THEY CAN BOTH HAPPEN and I think they will.
So as you can see on the chart, this has a good chance of creating a nice inverse head & shoulders pattern with 15%= gains if you go long from the neckline confirmation area. The SAFEST WAY to play this is to wait for the Inverse H&S pattern to complete and then see an upside breakout from the neckline!
A more aggressive entry would be to go long after the pullback and bounce from the 46k area.
This will definitely bring alt-coins up as well so it would be a good idea to see which ones are in the best position to pump when/if BTC is about to breakout!
The downside targets if 45K-46K support fails or we get rejected at the neckline while attempting to complete the right shoulder!
What do you guys think? I think this is a good opportunity!
If you like the idea PLEASE SHARE and follow me. I also provide other content on my Twitter although lately I've been a little busy at home.
I GREATLY APPRECIATE all shares and followers as well as comments. Thank you!
*** Disclaimer; This is an IDEA based off of my experience and is not to be considered professional advice as I am not a professional investment advisor. I ALWAYS recommend doing your own research before investing in anything ***
MACD suggests a small pullback , HOWEVER , RSI is showing some bullish divergence... THEY CAN BOTH HAPPEN and I think they will.
So as you can see on the chart, this has a good chance of creating a nice inverse head & shoulders pattern with 15%= gains if you go long from the neckline confirmation area. The SAFEST WAY to play this is to wait for the Inverse H&S pattern to complete and then see an upside breakout from the neckline!
A more aggressive entry would be to go long after the pullback and bounce from the 46k area.
This will definitely bring alt-coins up as well so it would be a good idea to see which ones are in the best position to pump when/if BTC is about to breakout!
The downside targets if 45K-46K support fails or we get rejected at the neckline while attempting to complete the right shoulder!
What do you guys think? I think this is a good opportunity!
If you like the idea PLEASE SHARE and follow me. I also provide other content on my Twitter although lately I've been a little busy at home.
I GREATLY APPRECIATE all shares and followers as well as comments. Thank you!
*** Disclaimer; This is an IDEA based off of my experience and is not to be considered professional advice as I am not a professional investment advisor. I ALWAYS recommend doing your own research before investing in anything ***
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.