$Bitcoin has performed a Symmetrical Triangle and at the same time it is a Dead Cat Bounce reversal pattern.
Now on the 4H chart, price breaks two strong resistance , the first one is the trend line and the second one is confirmation line at 7625 which a full green candle closed above it.
Targets from this position are:
1- 9053.49 with 18% profit
2- 9755 with 27% profit
3- 11018 with 44% profit as strong resistance.
4- 14400 as symmetrical triangle target with 90% "strong resistance on long term".
Please use your money management and stop lose. Happy trading!
Previous analysis:
Now on the 4H chart, price breaks two strong resistance , the first one is the trend line and the second one is confirmation line at 7625 which a full green candle closed above it.
Targets from this position are:
1- 9053.49 with 18% profit
2- 9755 with 27% profit
3- 11018 with 44% profit as strong resistance.
4- 14400 as symmetrical triangle target with 90% "strong resistance on long term".
Please use your money management and stop lose. Happy trading!
Previous analysis:
