Bitcoin BTCUSDT daily technical analysis (28 Feb 2020)
Bitcoin BTCUSDT daily technical analysis (28 Feb 2020)
Keep this chart for Day 2
Wait to sell from $9100 or $9450 if there is a nice down setup
The bearish wave of BTC BTCUSDT yesterday paused around the $8500
The trend of BTCUSDT has turned to short-term decline after Bitcoin broke $9000 and moved down to $8500
The chart structure consists of descending 3 peaks and bottoms
Confirming the downtrend.
From $8500, we can see buying pressure up
Three candle stick with long lower shadow (H4)
Candles indicate a support from below or buying up from $8600-$8800
CONSIDER:
BTCUSDT will have another rally up
DO NOT BUY bottom
IT IS very dangerous to buy because it is against the trend (DOWN TREND)
PATTERN
We can see a bearish flag (H4)
It is again a sign of downtrend will continue.
Can see a gentle move up of the price
Then it was dumped like a waterfall.
Look at last wave foot, it is now the resistance $9100
------
Keep this chart for Day 2
Wait to sell from $9100 or $9450 if there is a nice down setup
Sell when price hits resistance and forms a down setup
Can also sell when price breaks the flag (H4).
Keep this chart for Day 2
Wait to sell from $9100 or $9450 if there is a nice down setup
The bearish wave of BTC BTCUSDT yesterday paused around the $8500
The trend of BTCUSDT has turned to short-term decline after Bitcoin broke $9000 and moved down to $8500
The chart structure consists of descending 3 peaks and bottoms
Confirming the downtrend.
From $8500, we can see buying pressure up
Three candle stick with long lower shadow (H4)
Candles indicate a support from below or buying up from $8600-$8800
CONSIDER:
BTCUSDT will have another rally up
DO NOT BUY bottom
IT IS very dangerous to buy because it is against the trend (DOWN TREND)
PATTERN
We can see a bearish flag (H4)
It is again a sign of downtrend will continue.
Can see a gentle move up of the price
Then it was dumped like a waterfall.
Look at last wave foot, it is now the resistance $9100
------
Keep this chart for Day 2
Wait to sell from $9100 or $9450 if there is a nice down setup
Sell when price hits resistance and forms a down setup
Can also sell when price breaks the flag (H4).