Coin : BTCUSDT (Binance)
Timeframe : 1h and 5m
Date : March 15, 2022 (2PM)
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In 1h timeframe (first picture) market did broke out of the Falling Wedge pattern, but the moment was cut off when the price reach our 200SMMA(equals to 399EMA) which is also the same price level where our Resistance #1 is placed. And that resulted to a drop down below 39k again.
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In 5m timeframe (second picture), we could see another failling wedge pattern but this move is not finish yet so it’s better to wait for a good volume to spike in. But if this happen I could see a retest up to Resistance #1 or just the halfway assuming that it could form a Double Bottom (I will comment the chart on how I see it with patterns)
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In the third picture, this is not valid yet but I think this could happen, a BROADENING FALLING WEDGE , this is a big move that can make us assume that a recovery up to 41-42k(Resistance #3) is possible. I will look onto this and make enough observation.
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To our new traders, if you’re planning to use this Technical Analysis for trade, always have a room of doubt in your mind, as I only do this TA so we can learn together. If you insist please do it in demo or lessen your trade size to the minimum possible.
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Kindly leave a reaction if you understand our TA for today, and comment if/what you don’t understand.
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