💎BTC: Double Bottom Indicating Short Term Rise to 18500$ 🔥🔥🔥
Hello Dear Traders,
(Crypto Market Cap : 530 Billion , BTC Dominance:62.9%)
From 2 Days we are seeing continuous decline in BTC Price. Today Btc touched the local demand zone of 17600 and gave a very good recovery in a 4hr time frame.
This is called a Double bottom chart pattern. This pattern is seen when there is reversal after heavy decline in price. The last 4hr candle closed very bullish it indicates once price touched the demand zone, continuous buying has been done by bulls. we might see short-term recovery towards 18500 again. bcoz there is a fresh supply zone and on a daily time frame BTC is strong bearish. i'm expecting more decline in price till 16200$ . to rise higher btc needs demand of 16200$.
Altcoins are dumping very hard , it's very risky to trade alts. smaller correction in btc is leading alts to drop 5-6%. We will post alts signal with proper confirmation on a daily time frame. In Next Educational Post i will Show u My Strategy to take full Advantage of Upcoming Alt-season and become Proud crypto trader.
This Weekly candle of btc is going to close very bearish, in history btc didn't break previous all time high in one shot , it took several corrections to rally for all time high.
so every major drop in btc is for Buying only. MT Gox FUD may create more panic in upcoming days so trade carefully have proper money management and stop losses.
Thanks for your support! If you liked this analysis, please support our profile with a 👍 and follow us to get a new daily analysis.
This trading idea has been presented to you by ROHITWORKSS
(Crypto Market Cap : 530 Billion , BTC Dominance:62.9%)
From 2 Days we are seeing continuous decline in BTC Price. Today Btc touched the local demand zone of 17600 and gave a very good recovery in a 4hr time frame.
This is called a Double bottom chart pattern. This pattern is seen when there is reversal after heavy decline in price. The last 4hr candle closed very bullish it indicates once price touched the demand zone, continuous buying has been done by bulls. we might see short-term recovery towards 18500 again. bcoz there is a fresh supply zone and on a daily time frame BTC is strong bearish. i'm expecting more decline in price till 16200$ . to rise higher btc needs demand of 16200$.
Altcoins are dumping very hard , it's very risky to trade alts. smaller correction in btc is leading alts to drop 5-6%. We will post alts signal with proper confirmation on a daily time frame. In Next Educational Post i will Show u My Strategy to take full Advantage of Upcoming Alt-season and become Proud crypto trader.
This Weekly candle of btc is going to close very bearish, in history btc didn't break previous all time high in one shot , it took several corrections to rally for all time high.
so every major drop in btc is for Buying only. MT Gox FUD may create more panic in upcoming days so trade carefully have proper money management and stop losses.
Thanks for your support! If you liked this analysis, please support our profile with a 👍 and follow us to get a new daily analysis.
This trading idea has been presented to you by ROHITWORKSS
