BTC - Bulls Vs Bears (as always)

Dear all,

Here is the current view on BTC that I am monitoring.

We really had a fight right now between Bullish and Bearish patterns.

Bulls:
- Inverse Head & Shoulders in formation (Target $7,900 area)
- Possible Diamond bottom

Bears:
- Downward break out of the falling wedge
- Trend line rejection on the Daily at key $6,800 level
- RSI too high to have another significant rally
- Could end up in a future descending triangle along resistance line


On my side I entered long at $6,350 with tight stop loss, and I'm looking at $6,180 and a possible option for the top of the Right Shoulder.
Below that we are likely to retest the $5,800 area or even lower.


All the Best from the Crypto Space
Alteroc

تم فتح الصفقة:

Also watching this formation:

تعليق:

Touched the support of bottom diamond and now left shoulder equals right.
If we bounce from here I'm still long. If not my short target is $5,800 and $5,400 to begin with.

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Nice bullish div on the 1h TF

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Interesting falling wedge on 1H with support on RSI

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Following perfectly the expected diamond bottom so far

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BTC looking good thos past 2 days.

Diamond bottom almost completed, inv H&S taking shape:

تعليق:

RSI is off the charts on the 4h and now the daily is printing a bearish divergence.

Looking to reenter long at those areas: