Hello Traders!
BTCUSD is moving inside an expanding channel and if we look closely it is forming an inverted head and shoulder pattern which is a bullish sign. It is good to go for buy once it breaks this short-term bearish trend. I am expecting that it will break this bearish trend after it completes the inverted head and shoulder pattern.
The expected date to hit the target is 20th May and we will see a fake breakout of this expanding channel and a hard drop after that. Next psychological resistance is at 75K so a next drop might start from that level.
I will post the next BTC analysis on 9th May. BTC analysis is important for all other coins as they move up and down with BTC.
Don't forget to hit the like button and follow to stay connected.
BTCUSD is moving inside an expanding channel and if we look closely it is forming an inverted head and shoulder pattern which is a bullish sign. It is good to go for buy once it breaks this short-term bearish trend. I am expecting that it will break this bearish trend after it completes the inverted head and shoulder pattern.
The expected date to hit the target is 20th May and we will see a fake breakout of this expanding channel and a hard drop after that. Next psychological resistance is at 75K so a next drop might start from that level.
I will post the next BTC analysis on 9th May. BTC analysis is important for all other coins as they move up and down with BTC.
Don't forget to hit the like button and follow to stay connected.
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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.