As time goes by, the markets evolve.
More visible, more probable:
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns / support or resistance
-Dotted lines; Possible price-action trajectories
I guess we can conclude that BTC is going to breakout of this falling broadening wedge sooner or later. However if this forming ascending triangle in the shorter time frames is confirmed, then we might see a breakout to the upside towards the $8.1K region to retest the resistance of the FW, within approximately 3 days. Otherwise retesting the support of the FBW will be most probable, target bottom will be approx. $6.2k region, support of the FW. For the time being, we'll have to wait and let the markets evolve a bit. The fact that the price action is dancing around the EMA-89 in the 4H chart, means BTC is in a turning point. Bearish reversal otherwise bullish continuation. We'll discover soon enough. Gonna wait for the bullish pattern to confirm, then I'll definitely will become bullish. Like I mentioned in the previous idea.
In case you're wondering which indicators I'm using. She's called EMI, short for 'Epic Market Indicator' and it's a collection of diverse indicators.How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Be careful and good luck traders!
More visible, more probable:
-Dashed lines; Possible forming patterns
-Solid lines; Confirmed patterns / support or resistance
-Dotted lines; Possible price-action trajectories
I guess we can conclude that BTC is going to breakout of this falling broadening wedge sooner or later. However if this forming ascending triangle in the shorter time frames is confirmed, then we might see a breakout to the upside towards the $8.1K region to retest the resistance of the FW, within approximately 3 days. Otherwise retesting the support of the FBW will be most probable, target bottom will be approx. $6.2k region, support of the FW. For the time being, we'll have to wait and let the markets evolve a bit. The fact that the price action is dancing around the EMA-89 in the 4H chart, means BTC is in a turning point. Bearish reversal otherwise bullish continuation. We'll discover soon enough. Gonna wait for the bullish pattern to confirm, then I'll definitely will become bullish. Like I mentioned in the previous idea.
In case you're wondering which indicators I'm using. She's called EMI, short for 'Epic Market Indicator' and it's a collection of diverse indicators.How to use, is in the description. You can use them like any other indicators. Search for 'epic market indicator' then add. I have recently published the latest versions. EMI 1 v3.0 & EMI 2 v2.0. Be careful and good luck traders!
Comment:
30min View
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Updated version
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Updated trajectories.
