📍So, BTC is playing around the 45k - 48k price zones lately and decisions are really hard to make at the moment. Therefore most of the traders have no clue in which direction price may go further.
📍I can see a possible bull flag here like the one we have seen at September this year.
📍 This bull flag is also combined with a three drive pattern which also can be seen here in the chart. Both scenarios are bullish for mid-long term
📍 There is also a bullish divergence in daily time frame in RSI which can make the price grow
BUT
📍 There are a couple of new scary bearish signs in sight, like:
1- HUGE monthly bearish divergence
2- Double Top in monthly time frame
3- Double Top in weekly time frame
4- Double Top in daily time frame
5- Close of the RSI below 50 level in weekly time frame
6- Daily ichimoku cloud
7- POSSIBLE Death cross in daily EMAs
8- Close of daily candles under the 200 EMA
👉🏼 Here is the RSI bearish divergence along with double top pattern which is really scary, and the scariest bearish sign that can reverse the price
📝 In conclusion, 40k-44k price zones is very important; once they are broken we have to worry for long and mid-term price reversal
📝 The next very important price zone is the 29k-32k; we can expect a very long wick to those levels once the 40k level is lost
👉🏼 Here is my bullish flag TA in 27. September which did not get enough attention and everyone was worried about the price reversal :)
📝 As a matter of fact this time I'm less bullish with all those bearish signs!
THIS IS NOT A FINANCIAL ADVICE PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION GOOD LUCK NP TRADER
Trade aktif
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Some good bullish signs are seen in H:4 time frame
Double bottom
Price came out of the ichimoku cloud
Order dibatalkan
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So we have seen a very professional bull trap at that point along with the fake breakout