1.FAlling wedge, to support to form a expanding ascending wedge
2.During the conversion of wedge there was a Bearish gartley formation
3.Also the kumo cloud formed a tough to break resistance span over the price action which was not easy to break
4.the Double top neck;ine acts as a potential resistance to halt any movement bove that..
5.If break happens i doubt...
BITFINEX:BTCUSD A descending triangle breeding !
Brace !
Following the pattern there is going to be a 2 day stall in any major break of price action....
But then its mayhem to 7400 which is the 1.27 fibonacci level..
A bearish harmonic battern is to be watched for...!
Or a tripple/double bottom..!
Holy thou Shorters..!
Disclaimer..This is not a trading/investment...
bitcoin crossed the rising wedge some days behind but the binance bad news again the chart created the bearish trend but now btc stable and holded stron at level 9k and rised more then 400$ from the support level with strong buy waiting to cross the again bearish wedge to rising wedge.
Hi Cryptianz,
We are seeing that BTC has started its bullish trend and having their strong support levels above $10500...
There will be always a Pullback in Bullish Trends that's what we are seeing now...
We need huge volume to make it more bullish after this pullback we may see $12250-$12500 in few trading sessions.
This pullback is expected upto $10860 if...
The rising wedge pattern is playing out.
The upper trendline on the log scale has been tested. I expect to see a retracement toward the Kijun / Cloud support which coincides with 0.382 fib retracement level.
Btc/usd on daily and 4 hours chart is showing promising signs of rise upto $17000. Hodling time is estimated to be 1-2 months.
You can clearly see the wolf wave completed and on-going, whereas inverse head $ shoulder is waiting for breakout, and not both these pattern have common target point.
CP-$10654
SL-$9394
TP-$17100
For more info, read the article given...
Bitcoin Price Analysis For Long Term
Inverse Head & Shoulders Pattern are forming, if it continue then it is a bullish signal,
Then price wlii touch near the ATH,
Reach the 17K $ .
According to Elliot wave theory BTC should go to around 8100-8500, because 1st wave is completed around 11700, now the correction waves comes into the picture, so According to ABC correction waves and fibonacci retracement, it should go around 8200.
These are only my thoughts not a financial advice, and btw always play it your own way.
