Hi friends hope you are well, and welcome to the new update on Bitcoin
The divergence:
There is a big hidden bullish divergence appeared on weekly time frame.
Down channel:
The prciceline is bounced from the support of a down channel on 4-hour time frame.
SMAs and Another Support:
The priceline has broken down $52900 support and now this level be a strong resistance for Bitcoin . Now the price action has tested strong support of $41330.
The priceline of Bitcoin has broken down weekly but the 50 simple moving average is still not broken down.
harmonic move flashed:
There is a big harmonic pattern formed on weekly time frame
On a weekly time frame chart, the has formed bullish Shark . After the completion of the final leg the priceline moved up again, therefore, we can wait for the priceline to move down in buying zone again and then place buy orders accordingly. There is also very strong support at $41330, therefore the price may start a reversal move above this level.
Buying and sell targets:
Buy between: $42701 to $36005
Sell between: $48609 to $61939
Stop loss:
The maximum extent of the buying zone $36005 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of up to 72%, and the loss possibility is 16%.
Don't forget to upvote/tip and share the post, thanks
You can also support my work at Patreon for more ideas:
https://www.patreon.com/moon333
In order to play and watch the current performance of the chart you need at least a free account on tradingview:
https://www.tradingview.com/gopro/?share_your_love=moon333
KuCoin is one of the best exchange to find crypto gems:
https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3
Link for BINANCE exchange, to trade crypto:
https://www.binance.com/?ref=11256882
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
