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POTENTIAL DROP TO $35K??? 2 RED MONTH CANDLE TECHNICAL ANALYSIS
To summarize the video, there is a potential drop to the 35k from what my analysis shows.
In the past, whenever we have had 2 red month candles (in a bull market), prices have dropped significantly towards the 50 week EMA before finding reversal to the upside. While showcasing the patterns, I also explained a potential head and shoulders pattern in play which also becomes confluent with the 35k price target to the downside. Another thing I forgot to mention in the video is the VPVR, which once again, coincides with the 35k level.
Hope to hear your guys' thoughts about this analysis. Please do not take this as financial advise as I am not an experienced trader. I am just trying to share what I find interesting. Cheers!
In the past, whenever we have had 2 red month candles (in a bull market), prices have dropped significantly towards the 50 week EMA before finding reversal to the upside. While showcasing the patterns, I also explained a potential head and shoulders pattern in play which also becomes confluent with the 35k price target to the downside. Another thing I forgot to mention in the video is the VPVR, which once again, coincides with the 35k level.
Hope to hear your guys' thoughts about this analysis. Please do not take this as financial advise as I am not an experienced trader. I am just trying to share what I find interesting. Cheers!
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