BTCUSDT-Pulback idea/Daily Timeframe

20 ก.พ. 2023

I would like to share with you an idea that I have been pondering on. Please note that this chart is not intended to be taken as financial advice. After a decent upward trend, Bitcoin appears to have stalled below the resistance of 25000$. My theory is that we may see a pullback to the previous all-time high, potentially forming the right shoulder of an inverted Head and Shoulders pattern.

To create this chart, I utilized two indicators: the Order Block Detector [Lux] and the Fibonacci Grid [LuxAlgo]. As always, I encourage you to be cautious and use stop loss measures to mitigate risk.

I wish everyone a profitable week ahead.