BTCUSD | Between Two Extremes
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Sorry for so confusing chart, but this is how the market looks on BTC now.
Start with bearish biases we have price being rejected of the resistance zone + resistance trendline of the descending channel. Also there is a potential Double Top. To confirm this bearish scenario we need to receive the confirmed breakout of the Horizontal Support and then can initiate a short position.
For bullish biases we have price formed the Bullish Flag under resistance zone. Also we have a variation of the Descending Channel. To confirm this scenario we need to receive the breakout of the Resistance zone and then initiate a long position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Sorry for so confusing chart, but this is how the market looks on BTC now.
Start with bearish biases we have price being rejected of the resistance zone + resistance trendline of the descending channel. Also there is a potential Double Top. To confirm this bearish scenario we need to receive the confirmed breakout of the Horizontal Support and then can initiate a short position.
For bullish biases we have price formed the Bullish Flag under resistance zone. Also we have a variation of the Descending Channel. To confirm this scenario we need to receive the breakout of the Resistance zone and then initiate a long position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
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