#BTC bearish cup-handle structure, beware of a pullback!
📊#BTC bearish cup-handle structure, beware of a pullback!
🧠From a structural perspective, we broke below the neckline, which means a bearish structure is established, so we need to be wary of further declines.
➡️Yesterday's decline was rapid, so we can wait for a rebound to appear and look for shorting opportunities near the blue resistance area or the downward trend line.
➡️Since it is the weekend, the trading volume may be less. If there is no rebound, then we need to wait patiently for a period of sideways consolidation before looking for shorting opportunities.
⚠️Note that the area around 106500 is a support-resistance conversion zone. If it breaks through here and stabilizes, we can remain optimistic.
🤜If you like my analysis, please like 💖 and share 💬
BTCUSDT.P
🧠From a structural perspective, we broke below the neckline, which means a bearish structure is established, so we need to be wary of further declines.
➡️Yesterday's decline was rapid, so we can wait for a rebound to appear and look for shorting opportunities near the blue resistance area or the downward trend line.
➡️Since it is the weekend, the trading volume may be less. If there is no rebound, then we need to wait patiently for a period of sideways consolidation before looking for shorting opportunities.
⚠️Note that the area around 106500 is a support-resistance conversion zone. If it breaks through here and stabilizes, we can remain optimistic.
🤜If you like my analysis, please like 💖 and share 💬
BTCUSDT.P Trade active
#BTC Update:
Reaching the blue resistance zone and getting blocked.
The trade was activated when the price broke below the lower edge of the rising wedge.
Risk-free for now!
Let’s see if there is a further pullback from here.
Trade closed: target reached
#BTC
80% profit can be locked in near the second yellow support zone.
Keep a small position to look forward to the target of the bearish cup-handle structure near 97666.
⚡️Timely updates and VIP consultation on Telegram: 👇
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
Related publications
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.
⚡️Timely updates and VIP consultation on Telegram: 👇
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
t.me/+9dh7Ug_iQ2lkMmM0
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
wolf20
👇BYBIT 👇
WOLFKING
👇BINANCE👇
O3D948JZ
Related publications
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.