Bitcoin - Diamond Bottoms + Bullish Divergence
Diupdate
Update for BTC/USD:
The market is showing a strong bearish sentiment as the price dropped from 6.800 highs. So what should be expected now? The chart is showing reversal signals such as diamond bottom, bullish divergence and MACD cross (which is part of my trading strategy).
Educational Part:
It's often expected when the price breaks upwards from the diamond bottom pattern that it is accompanied with expanded buying volume that it relies to. The target is measured by drawing a line from the top to the bottom and then added near to the break out zone. This pattern invalidates itself when it breaks downwards accompanied with heavy selling volume.
In the larger scale, breaking above of $6248 level (which is at 0.382 fib) with force gives a bullish confirmation.
Trading information:
Buy - Breakout (volume confirmation)
Partial Profit Target - $6248
Main Profit Target - Above $6300
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
DISCLAIMER:
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
The market is showing a strong bearish sentiment as the price dropped from 6.800 highs. So what should be expected now? The chart is showing reversal signals such as diamond bottom, bullish divergence and MACD cross (which is part of my trading strategy).
Educational Part:
It's often expected when the price breaks upwards from the diamond bottom pattern that it is accompanied with expanded buying volume that it relies to. The target is measured by drawing a line from the top to the bottom and then added near to the break out zone. This pattern invalidates itself when it breaks downwards accompanied with heavy selling volume.
In the larger scale, breaking above of $6248 level (which is at 0.382 fib) with force gives a bullish confirmation.
Trading information:
Buy - Breakout (volume confirmation)
Partial Profit Target - $6248
Main Profit Target - Above $6300
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
Catatan
Inverse head and shoulders pattern on 1h Catatan
Updated BTC/USD chart: 
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