Hellman13
6 Following
18 Followers
11 Liked
0 Shared
#BinanceTurns8 Join us in the #BinanceTurns8 celebration and win a share of up to $888,888 in BNB! https://www.binance.com/activity/binance-turns-8?ref=GRO_19600_Q2JQK
š Pattern Analysis ā Bitcoin (BTCUSDT)
The chart clearly shows a Head and Shoulders (Top) pattern, which typically signals a bearish reversal. Here's the breakdown:
---
š§ Pattern Structure:
Left Shoulder: Peak around $107,000.
Head: Higher peak near $112,000.
Right Shoulder: Lower peak, slightly under the head.
Neckline: Horizontal/ slightly upward-sloping support zone around $104,000ā$105,000 (currently being tested).
---
š Interpretation:
This is a bearish signal.
The price is currently at or near the neckline. A clean break and close below this neckline zone (especially with strong volume) would confirm the pattern.
---
š Possible Scenarios:
1. Bearish Breakout (Most Likely if neckline breaks):
If BTC closes below $104,000 with volume, the pattern is confirmed.
Target Drop = Height from Head to Neckline ā
Projected target = $104,000 - $8,000 = ~$96,000 (next key support zone).
2. Rejection and Bounce (Invalidation):
If price finds support at $104k and bounces with strong buying volume, the pattern may fail.
Upside potential back toward $108k and beyond if resistance breaks.
---
š What to Watch:
Volume: High selling volume on breakdown confirms move.
Retest: If neckline breaks, watch for a retest of the neckline as resistance ā a common confirmation step.
Macro news: Bitcoin reacts strongly to macro events (Fed decisions, ETF news, etc.) which can invalidate patterns.
---
ā Strategy Tips (if trading):
Short entry: After confirmed break below neckline.
Stop loss: Just above right shoulder (~$107k).
Take profit: Scale out toward $100k and $96k
#Binance #BTC
The chart clearly shows a Head and Shoulders (Top) pattern, which typically signals a bearish reversal. Here's the breakdown:
---
š§ Pattern Structure:
Left Shoulder: Peak around $107,000.
Head: Higher peak near $112,000.
Right Shoulder: Lower peak, slightly under the head.
Neckline: Horizontal/ slightly upward-sloping support zone around $104,000ā$105,000 (currently being tested).
---
š Interpretation:
This is a bearish signal.
The price is currently at or near the neckline. A clean break and close below this neckline zone (especially with strong volume) would confirm the pattern.
---
š Possible Scenarios:
1. Bearish Breakout (Most Likely if neckline breaks):
If BTC closes below $104,000 with volume, the pattern is confirmed.
Target Drop = Height from Head to Neckline ā
Projected target = $104,000 - $8,000 = ~$96,000 (next key support zone).
2. Rejection and Bounce (Invalidation):
If price finds support at $104k and bounces with strong buying volume, the pattern may fail.
Upside potential back toward $108k and beyond if resistance breaks.
---
š What to Watch:
Volume: High selling volume on breakdown confirms move.
Retest: If neckline breaks, watch for a retest of the neckline as resistance ā a common confirmation step.
Macro news: Bitcoin reacts strongly to macro events (Fed decisions, ETF news, etc.) which can invalidate patterns.
---
ā Strategy Tips (if trading):
Short entry: After confirmed break below neckline.
Stop loss: Just above right shoulder (~$107k).
Take profit: Scale out toward $100k and $96k
#Binance #BTC
Free red packet gift for all. Claim now š
https://safu.im/VZeZTanz
https://safu.im/VZeZTanz
Free red packet gift for all. Claim now š
#redpackt #redpacketgiveawaycampaign #RedpacketReward #Redpacketbox #redpacketcodes
#redpackt #redpacketgiveawaycampaign #RedpacketReward #Redpacketbox #redpacketcodes
Login to explore more contents