The weekend with less trading activities looks more at less volume activities in the crypto market.
With the steady increase in the price of BTCUSD, the bull are really not strong to hold that price more to the upside. On the 2 hours time frame the price chart of BTCUSD has been spotted forming a bear pennant flag pattern. This is indicating price reversal to the downside, after the breakdown from the support level. A bearish pennant is formed during a steep, almost vertical, downtrend.
After that sharp drop in price, some sellers close their positions while other sellers decide to join the trend, making the price consolidate for a bit.
The most important level is the breakdown before taking any trade.
Breakdown- $10462.1
Support 1- $10356.0
Support 2- $10215.6
Support 3- $10037.4
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
With the steady increase in the price of BTCUSD, the bull are really not strong to hold that price more to the upside. On the 2 hours time frame the price chart of BTCUSD has been spotted forming a bear pennant flag pattern. This is indicating price reversal to the downside, after the breakdown from the support level. A bearish pennant is formed during a steep, almost vertical, downtrend.
After that sharp drop in price, some sellers close their positions while other sellers decide to join the trend, making the price consolidate for a bit.
The most important level is the breakdown before taking any trade.
Breakdown- $10462.1
Support 1- $10356.0
Support 2- $10215.6
Support 3- $10037.4
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.