On the Track
Hi everyone,
Yesterday we talked about how Bitcoin might be entering a new range between the support and resistance displayed, as it bounced from the 0.5 Fib level.
A very important notice that on DOTUSDT, we have formed a head and shoulders and we are right now retesting the support level, which is really bullish as it is a reversal pattern on a higher time frame (Daily).
Also on DOTUSDT we have formed a bullish reversal candlestick pattern, although I am not a big fan of candlestick patterns because it is usually too late to enter when you see them, but they might be helpful when looking for confirmation.
For Bitcoin, we are still on the same plan as yesterday, as we did not quit the wedge we are in and as it bounced from the support we talked about on our latest post (link down below).
In conclusion, we are forming good structure inside the wedge and volume is increasing everyday, which means that there are strong participants entering the market since the last month.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
Yesterday we talked about how Bitcoin might be entering a new range between the support and resistance displayed, as it bounced from the 0.5 Fib level.
A very important notice that on DOTUSDT, we have formed a head and shoulders and we are right now retesting the support level, which is really bullish as it is a reversal pattern on a higher time frame (Daily).
Also on DOTUSDT we have formed a bullish reversal candlestick pattern, although I am not a big fan of candlestick patterns because it is usually too late to enter when you see them, but they might be helpful when looking for confirmation.
For Bitcoin, we are still on the same plan as yesterday, as we did not quit the wedge we are in and as it bounced from the support we talked about on our latest post (link down below).
In conclusion, we are forming good structure inside the wedge and volume is increasing everyday, which means that there are strong participants entering the market since the last month.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
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