Hi all !!
Good day !! Hope you are doing well !!
Bitcoin has formed two different patterns:-
---------------------------------------------------------
1. Ascending Triangle (Bullish)
2. Rising Wedge (Bearish)
Bullish Points:-
---------------------------------------------------------
1. Formed Ascending Triangle
2. High Lows
3. Resistance 6.9k broken
4. Possible Bump & Run Breakout
Bearish Points:-
---------------------------------------------------------
1. Formed Rising Wedge
2. Declining Volume
3. 50 Simple Moving Average Resistance
4. Bump & Run Resistance
I'm waiting for the confirmation for breaking above the Bump & Run Resistance to be bullish or breaking below the uptrend support line to be bearish. I'm slightly inclining to the bearish side due to lack of volume.
For more updates, follow me here.
~RPS~
Legal disclaimer:
I am not a financial adviser. The advice here given is not a financial advice even though my excitement might make it look like such. When I say: "Buy/Sell now!" or "Do's and Don'ts" or something like that — it is my personal opinion. I do what I believe is right and at the end of the day I am just a person, not an expert. You trade at your own risk and nobody can guarantee you results. I post because I care.
Good day !! Hope you are doing well !!
Bitcoin has formed two different patterns:-
---------------------------------------------------------
1. Ascending Triangle (Bullish)
2. Rising Wedge (Bearish)
Bullish Points:-
---------------------------------------------------------
1. Formed Ascending Triangle
2. High Lows
3. Resistance 6.9k broken
4. Possible Bump & Run Breakout
Bearish Points:-
---------------------------------------------------------
1. Formed Rising Wedge
2. Declining Volume
3. 50 Simple Moving Average Resistance
4. Bump & Run Resistance
I'm waiting for the confirmation for breaking above the Bump & Run Resistance to be bullish or breaking below the uptrend support line to be bearish. I'm slightly inclining to the bearish side due to lack of volume.
For more updates, follow me here.
~RPS~
Legal disclaimer:
I am not a financial adviser. The advice here given is not a financial advice even though my excitement might make it look like such. When I say: "Buy/Sell now!" or "Do's and Don'ts" or something like that — it is my personal opinion. I do what I believe is right and at the end of the day I am just a person, not an expert. You trade at your own risk and nobody can guarantee you results. I post because I care.
