Hi guys! 👋🏻
🔔 Bullish flag is being formed on BTC/USD
🔔 The Fibonacci divergence of the latest impulse replicates a support at 0.5 Fibo, however Bitcoin might as well drop to 0.618 Fibo to a massive support around $59K.
🔔 The retest of $59K would be a drastic uptrend signal as it not only holds the dynamic support of the bullish flag but a dyanic support of February 28.
🔔 Also there is a stable static support at 59K, hence sooner or later BTC will jump towards $68K and as the volumes increase, Bitcoin will proceed towards $70K and $78K. This ending diagonal formation might suggest a bearish reversal, a strong reversal but since March 2020 we have seen many times that BTC simply ignored the pattern and was rather bullish on the completion of this pattern than bearish.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Bullish flag is being formed on BTC/USD
🔔 The Fibonacci divergence of the latest impulse replicates a support at 0.5 Fibo, however Bitcoin might as well drop to 0.618 Fibo to a massive support around $59K.
🔔 The retest of $59K would be a drastic uptrend signal as it not only holds the dynamic support of the bullish flag but a dyanic support of February 28.
🔔 Also there is a stable static support at 59K, hence sooner or later BTC will jump towards $68K and as the volumes increase, Bitcoin will proceed towards $70K and $78K. This ending diagonal formation might suggest a bearish reversal, a strong reversal but since March 2020 we have seen many times that BTC simply ignored the pattern and was rather bullish on the completion of this pattern than bearish.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Nothing is true, everything is permitted.
_________________________________
🤖 I am one of the 11K TradingView users who trade on BingX - bingx.com/partner/Aziz
_________________________________
🤖 I am one of the 11K TradingView users who trade on BingX - bingx.com/partner/Aziz
