Hello friends ,I would like to write this blog in very simple words so that everyone could understand. Bitcoin price could create a bullish technical pattern in next few days. I would suggest you all to continue read this blog as I will tell you some facts about why bitcoin price may be charting a Bull Reversal.
It is a confusing picture as the recent short term bullish bias has been neutralized following BTC’s the 10 day moving average. So the risk of pullback to USD 6000 look to have increase of 5.7% Tuesday’s price Drop.
News is that the bitcoin could end up creatin a pattern of inverse head-and-shoulders that is Bullish pattern soon if bear fails to penetrate the support of $6,000 in next couple of days. At press time BTC is changing hands at $6,350 on a 24 hour bias.
CHART
The drop of bitcoin to $6,250 yesterday gave another bearish pattern that is lower high pattern on daily chart. The 5day and 10 day Mas are also began to slope downwards in the favour of the bears. The news is that the BTC looked to test $6,000 in next day or 2. So the chart of short duration indicate that BTC will likely to defend the support of $6,000.
POTENTIAL INVERSE HEAD AND SHOULDERS PATTERN
If the BTC bounces off the support at $6,000 a long term bull reversal would be confirmed and sees a high volume break $6,832 and the probability of completing the head and shoulders pattern remains high.
Whats your opinion about it let me know by commenting below .
Thanks Hitesh Verma
Nice blog good post from this blog
Wow a nice blog.please follow and upvote i am new here .lets make mgsc community big
Thanks for reading this and yeah i will definitely upvote you..
thanks dear help all to grow resteem each other and upvote too
Really suspicious to invest in btc
It's seems Bitcoin will increase little bit but not for long time. We can make little but not as much as in past.i don't think that to make a long position. Bye and book profit.
yeah right..i also think that not to hold bitcoin for long time from now... whenever u are in profit.. sell it and invest money in other trending coins or bitcoin as well..
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I this it create head and sholder
yeah..thanks for reading..
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Your study is great.
Thanku i hope u liked my work..
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Great post! Enjoyed reading your article...keep up the great work!
thanku comments like yours boost me to work harder and post good information..
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BTC's drop to $6,260 yesterday left another lower high (bearish example) on the day by day diagram, while the relative quality record (RSI) has moved over for the bears (is back underneath 50.00).
The 5-day and 10-day MAs are additionally starting to slant downwards for the bears.
Nice blog.... Great 👍
Thanku brother...Thanks for reading it..
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Bro
....read ur post....i joined recently too....follow me back nd will soon upload my first post....
Really good and informative article. Keep it up
thanks.. for reading
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Nice information...
Nice blog