BTCUSDT: Bullish pressure will over soon
Hello Traders!
This is the complete analysis of btcusdt,
After reacting at 34500 True reversal point market remained extremely bullish and we saw a growth of +30% in BTCUSDT.
Before hitting 34500 True reversal point we detected an expanding triangle pattern after the breakout of trendline 1 and that pattern did its job perfectly. But recently I saw that Market is not following any technicals so I want to aware you to take decisions wisely as it will react more on fundamental than technicals.
I am not an expert in fundamentals but I know how to play with technicals so here is my analysis of BTCUSDT.
Now BTC is forming a triangle pattern below the broken trendline 1 and this triangle pattern will break towards the downside but the true reaction will be towards the upside. The market will rise after a breakdown because it's a natural behavior of a pattern.
There is very tight space left towards the upside and according to my analysis, we will see a dive after a reaction zone. The reaction zone is not different from support and resistance but i call it a reaction zone because first, the reaction zone formed because there was a true reversal point(A strategy created by me that shows pinpoint accurate reversal point, recently i have posted SOL analysis and you can see how it performed). Now Market will not reverse with pinpoint accuracy but it will form a reaction pattern at the reaction zone.
This reaction pattern will push the market downside towards the broken trendline 2. The impact at broken trendline 2 will be very important for the next move, Normally I don't confuse traders by putting lines towards the upside as well as a downside. It's a way to confuse trade. But in this case, we will wait for the impact to react. If the market is pushed below the trendline then it's a good sign for buyers as we will see a bullish move but if the market hit the trendline perfectly and formed a wick and moves towards upside then it's not a good sign for buyers because it will drop hard and we will see the market at 36500 and that's what I am expecting from BTC.
Don't forget to hit the like button and follow to stay connected.
This is the complete analysis of btcusdt,
After reacting at 34500 True reversal point market remained extremely bullish and we saw a growth of +30% in BTCUSDT.
Before hitting 34500 True reversal point we detected an expanding triangle pattern after the breakout of trendline 1 and that pattern did its job perfectly. But recently I saw that Market is not following any technicals so I want to aware you to take decisions wisely as it will react more on fundamental than technicals.
I am not an expert in fundamentals but I know how to play with technicals so here is my analysis of BTCUSDT.
Now BTC is forming a triangle pattern below the broken trendline 1 and this triangle pattern will break towards the downside but the true reaction will be towards the upside. The market will rise after a breakdown because it's a natural behavior of a pattern.
There is very tight space left towards the upside and according to my analysis, we will see a dive after a reaction zone. The reaction zone is not different from support and resistance but i call it a reaction zone because first, the reaction zone formed because there was a true reversal point(A strategy created by me that shows pinpoint accurate reversal point, recently i have posted SOL analysis and you can see how it performed). Now Market will not reverse with pinpoint accuracy but it will form a reaction pattern at the reaction zone.
This reaction pattern will push the market downside towards the broken trendline 2. The impact at broken trendline 2 will be very important for the next move, Normally I don't confuse traders by putting lines towards the upside as well as a downside. It's a way to confuse trade. But in this case, we will wait for the impact to react. If the market is pushed below the trendline then it's a good sign for buyers as we will see a bullish move but if the market hit the trendline perfectly and formed a wick and moves towards upside then it's not a good sign for buyers because it will drop hard and we will see the market at 36500 and that's what I am expecting from BTC.
Don't forget to hit the like button and follow to stay connected.
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