After securing the target from the rising wedge breakout (check linked idea), BTCUSD 4 hour chart has now taken the shape of a contracting wedge/symmetrical triangle.
While often interpreted as a continuation pattern, like all triangles, a symmetrical triangle is a neutral pattern with a slight continuation bias (bullish in this instance). This could soon break...
Have you seen these formations ?
1. Bearish wedge
2. Bearish H&S
At the current highs of these are short term reversal patterns.
How you are seeing BTC ?
Comment you views down, i will go through it.
Good luck
It seems there is no stopping Bitcoin and we continue to see only higher prices.
On the last monthly analysis, we looked at Bitcoin in a different view based on candlestick reading...
"We go down the first half of the month and up the second half..."
This is becoming true now: Bitcoin Monthly & Why We Go Down Before Go Up!
All the...
First of all its forming more like ascending channel formation & on the lower timeframe formed a consolidation which has been broken if it's giving any sort of pullback on 1h can entered for the sell side. I expect it to hit at 19-18.5k on short period of time.
Last week, Bitcoin broke out of the RSI trendline on daily and, propelled by a bullish failure swing on the 4 hr chart, vaulted beyond 20k to enter uncharted territories. It took a few days for the price to settle down and establish new levels of support and resistance. With the parabola out of the way, the price has now settled into a rising wedge pattern (no...
ABCD pattern shows a short term opportunity in BTCUSD .
Enter into buying in this level can give a short term target of 24237 to 24529.
STOP may be below 23101 level.
