bitcoin ralllied in "feb" due to various postive news like btt ico, fetch ico,ethereum hardfork and bnb token burn, so whales took an advantage of it to organise a pump and dump scam, as per their plan people have started invest in Altcoins by hoping 5000$+ btc target but the current global sentiment is completely negative, so i am not expecting any organic pump...
Bitcoin Following Symetrical Triangle
We are doing Analysis of BTCUSDT on Daily Timeframe .
I have Mention Support and resistance levels on Chart
Note: This is only for Educational Purpose this is not an Investment advice.
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Adil Khan
Bitcoin seems to be constipated for now and looks like the likely scenario is a retest of the 6300 zone.
Before we see any one sided move this is important to be achieved.
Bitcoin on the daily timeframe is within the same descending triangle we spoke about on the weekly perspective - whats more important to notice is how the 6k levels has held on for now.
Keep in mind the more you test it the weaker it gets.The major downtrend line will hence have to be broken to the upside to see any further bullish momentum
Bitcoin on a weekly perspective is still within a smaller descending triangle but a larger parallel channel that seems to be converging to the lower end of the channel.A breakout above the channel will be beneficial to see any long term upmove to be generated.
bitcoin follow this pattern.for your right chart confrmation you should take same 1 week graph.
end of year 36000-42000$
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bitcoin cash is bullish on rsi and is at support levels its really good time to buy in and go long for short term profits. bch is profittable in longterm too.
