BTCUSD has been in consolidation for about 2 months. The recent surge might have shown some signs that the down trend is over.
However, I think it's still too early to say so. At the 4H chart there's a H&S pattern. Nonetheless, price bounced off strongly at the neckline. And now there's a build up/ consolidation which is a sign of an impending up move..about 2000-2500 points i.e 5%.
The overhead resistance at around 42,500 remains a threat.
Trade cautiously!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
However, I think it's still too early to say so. At the 4H chart there's a H&S pattern. Nonetheless, price bounced off strongly at the neckline. And now there's a build up/ consolidation which is a sign of an impending up move..about 2000-2500 points i.e 5%.
The overhead resistance at around 42,500 remains a threat.
Trade cautiously!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Trade stängt: målet nått:
That's a quick 5% profit!
Let's see if we get a candle stick reversal pattern at the 4H chart.
Let's see if we get a candle stick reversal pattern at the 4H chart.