Hi welcome to our technical analysis video, In this video i wanna explain about BTCUSD update At our last analysis on august 16, we have support zone at fibonacci inside expanding triangle pattern at 6285 And we have bullish wave after this level hit
So what happen now at bitcoin? In this video we split our chart in 3 because we have 3 pattern perform and all of them are bullish patten First we have neckline here, this neckline perform inverted head and shoulders pattern with 6 degree neckline 6 degree is a good one for pattern requirement I will explain more about this pattern at wwwgoprofitmaxcom trading class Lets back to our chart If neckline break up, we can easy calculate our pattern projection With AB or neckline to head equal to CD or neckline to projection We also can see this projection also as classic support and resistance level And if we calculate with fibonacci, this is fibonacci resistance zone So this is perfect target for us
So our trading plan here, if neckline break up, we can buy after neckline retest and aim for inverted head and shoulders projection at 7301 this pattern failed if 6198 break down Lets move to our second pattern We have ascending triangle pattern here, This also bullish cotimuation pattern, with AB equal to CD we can easy calculate our profit projection So our second trading plan, if BC line break up at 6607 with full candle at one hour timeframe we buy bitcoin and aim for ascending triangle projection at 7021 now we move to our last pattern If we look closely, we have bullish flag pattern here, With AB equal to CD, we can calculate our projection at D point And we also have pattern failed condition Consider this pattern failed if 6389 break down So we also have trading plan for bullish flag We buy this coin at flag support or after C line break up, and aim for projection at 6949 Which pattern you wanna use, all depen on your decission See u at next analysis, bye
