Bitcoin was Sandwiched & Black Crows took the Sandwich๐ฅช
Hi, everyone๐(Reading time less than 3 minutesโฐ).
Today I want to use one of the simplest and, of course, the most widely used technical analysis tools to analyze Bitcoin, the name of this analysis tool is "Candlestick Patterns".๐
In general, candlestick patterns are used to enter and exit the trade and to understand the price trend in the chart. And the more these patterns are formed in higher time frames, the more valid they are.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
โBitcoin was moving in an ascending channel for about 24 days but was broken down by a ๐ฅชBearish Stick Sandwich Candlestick Pattern๐ฅช on the daily time frame of this ascending channel.
โAlso, the last 3 daily candles together formed the โซ๏ธThree Crows Candlestick Patternโซ๏ธ, which shows us a reversal pattern as well as a continuation of the downward trend (The black crow has been a sign of sadness and bad events since ancient times).
โIn addition, if we look at the RSI indicator, we can see that the ๐ปDouble Top pattern๐ป has worked well and has broken the 50% line downwards. We can expect the RSI to fall to the 30% line at least.๐
๐Another reason that shows that Bitcoin is likely to break the ๐ขsupport zone($ 26,890-$ 26,430)๐ข is the duration of Bitcoin's rise and fall. If you look carefully at the chart, the number of days that Bitcoin needed to grow was 18 days, but Bitcoin lost its growth in about 7 days and fell. This shows that the strength of the sellers in the market is more than the buyers and most likely the ๐ขsupport zone($ 26,890-$ 26,430)๐ข will be broken and Bitcoin will go to the ๐ขheavy support zone($ 25,300-$ 23,890)๐ข(โ๏ธa very sensitive and decisive zone for Bitcoinโ๏ธ).
Bitcoin Analyze ( OKX:BTCUSDT ), Daily time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
Today I want to use one of the simplest and, of course, the most widely used technical analysis tools to analyze Bitcoin, the name of this analysis tool is "Candlestick Patterns".๐
In general, candlestick patterns are used to enter and exit the trade and to understand the price trend in the chart. And the more these patterns are formed in higher time frames, the more valid they are.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
โBitcoin was moving in an ascending channel for about 24 days but was broken down by a ๐ฅชBearish Stick Sandwich Candlestick Pattern๐ฅช on the daily time frame of this ascending channel.
โAlso, the last 3 daily candles together formed the โซ๏ธThree Crows Candlestick Patternโซ๏ธ, which shows us a reversal pattern as well as a continuation of the downward trend (The black crow has been a sign of sadness and bad events since ancient times).
โIn addition, if we look at the RSI indicator, we can see that the ๐ปDouble Top pattern๐ป has worked well and has broken the 50% line downwards. We can expect the RSI to fall to the 30% line at least.๐
๐Another reason that shows that Bitcoin is likely to break the ๐ขsupport zone($ 26,890-$ 26,430)๐ข is the duration of Bitcoin's rise and fall. If you look carefully at the chart, the number of days that Bitcoin needed to grow was 18 days, but Bitcoin lost its growth in about 7 days and fell. This shows that the strength of the sellers in the market is more than the buyers and most likely the ๐ขsupport zone($ 26,890-$ 26,430)๐ข will be broken and Bitcoin will go to the ๐ขheavy support zone($ 25,300-$ 23,890)๐ข(โ๏ธa very sensitive and decisive zone for Bitcoinโ๏ธ).
Bitcoin Analyze ( OKX:BTCUSDT ), Daily time frame โฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
์ฝ๋ฉํธ:
Did you enjoy this sandwich or not?
๐Free & VIP Signals: t.me/ProTrader_365
๐if you want to learn Technical Analysis = Please Contact me
๐if you want to learn Technical Analysis = Please Contact me
์ฐ๊ด ์์ด๋์ด
