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If BTC manages to close above 104K with strong volume, a short-term relief rally could follow — with the first target around 108K. 🚀
📉 Bearish Scenario:
BTC is currently facing strong resistance near 104K. If it gets rejected from this zone (which seems likely), the first support lies at 102.5K. A breakdown below this could lead to a deeper correction toward 100K → 98K, with an extended target as low as 92K if selling pressure increases. ⚠️📉 #MyCOSTrade #CircleIPO #BlackRockETHPurchase #TrumpTariffs $BTC $ETH $TAO
The Dragonfly Doji is a significant candlestick pattern in trading, indicating potential trend reversals, especially at market bottoms. It features a small body at the upper end of the trading range with a long lower shadow and little to no upper shadow, resembling a "T." This pattern suggests strong rejection of lower prices, signaling bullish momentum. Traders often confirm the reversal with subsequent green candles or higher volume. The Dragonfly Doji is most reliable after a downtrend, highlighting buying pressure. Proper risk management is essential, as false signals can occur. Combining it with other indicators enhances accuracy in predicting upward reversals.
The image depicts a classic head and shoulders pattern, a bearish reversal signal. The left shoulder, head, and right shoulder form peaks, with the neckline acting as support. A resistance level is identified above the head. The "Resistance breakout" suggests a potential upward move, but the pattern indicates a likely reversal. The "Test of the broken-out and long entry" implies a retest of the neckline after a breakout, possibly offering a short entry if the pattern holds. The "Take profit" level would likely be set below the neckline, projecting a decline equal to the head's height. Traders should watch for confirmation before acting.$BTC
The double bottom pattern is a bullish reversal chart pattern found at the end of a downtrend. It consists of two distinct lows at roughly the same price level, forming a "W" shape. The pattern confirms when prices break above the resistance level(the peak between the two lows) with increased volume, signaling a potential upward trend.
Traders often measure the target by adding the pattern's height (low to resistance) to the breakout point. Double bottoms indicate strong buying interest after prolonged declines, making them a reliable indicator for trend reversals in stocks, forex, and other markets. Follow For More Fact's 😊
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A hammer is a bullish reversal candlestick pattern that forms at the end of a downtrend suggesting a potential trend reversal from bearish to bullish.
Key Features of a Hammer Candlestick: ✔ Small Body Located at the upper end of the candle (can be green or red, but green is stronger). ✔ Long Lower Wick At least twice the length of the body, showing strong rejection of lower prices. ✔ No or Very Small Upper Wick Indicates little selling pressure during the candle’s formation. ✔ Appears After a Downtrend Signals exhaustion of sellers and potential buyer takeover.
Why is it Important - Shows that sellers pushed prices lower, but buyers aggressively stepped in reversing the move. - Suggests a possible trend reversal if confirmed by the next candle (e.g., a strong bullish follow-through).
Trading the Hammer: 🔹 Entry– After confirmation (next candle closes above hammer’s high). 🔹 Stop Loss Below the hammer’s low. 🔹 Target Previous resistance or a risk-reward ratio (e.g., 1:2 or 1:3).