Bitcoin has formed a triangle pattern on weekly and monthly timeframes and has reached the resistance levels.
Bitcoin has formed Doji candle on weekly timeframe, Its a reversal sign and high probability of reversal from here.
Bitcoin closing below 9300 levels on daily timeframe may be the confirmation of reversal and downtrend may be seen.
Daily close above 10200...
btc usd forming symmetric chart pattern in one hour time frame its looking bearish because its rejected weekly resistance zone and its also forming rising wedge pattern in 4 hour timeframe. All depends on breakout . Lets see
The charts shows two paths for BTC. From here it can follow the either one.
RED one is distribution schematic.
GREEN one is re-accumulation schematic.
Personally I'm leaning towards distribution schematic but if I see some strength around 9100, I'll switch bullish.
Any Price weakness around 10100 will trigger shorts.
Play patiently!
seems we have stabilized a new longterm trendline which need to be retested and also place for potential right shoulder of inverse H&S pattern seems we may land around 6k again ....
Is Bitcoin (XBTUSD) moving back up?
Looking at the chart above, short-term, we can see Bitcoin breaking and staying above each resistance level in the form of EMAs.
We can see prices testing the support level on a long-wick then moving back up while printing higher lows... This can be a short-term bounce for another try at $10,000 - $10,500+
We have a...
possible bitcoin price move scenario on both the direction from symmetrical triangle pattern most likely towards upside i feel, but still its impossible to predict bitcoin price to anyone.yet we need to be cautious i have given both the level support and resistant.pls like and share if you like my idea.....
