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If Bitcoin continues to create Bullish 3-method formation then we may see good bull run in coming months..
Yellow line marked is the major support line, lets see whether that support will hold or break.
Closely watching Bitcoin in 15 Min chart to see how it breaks the pattern bearish or bullish.
My expectation is it will be bullish break out, what are your expectations guys? Comment below.
In 4H chart Bitcoin is following currently a falling wedge pattern.
The yellow line is the major support line, I hope it wont break that and it would retrace and start an uptrend soon. Fingers crossed though!
Reasons for BTC downtrend could be?
1. Chinese NEW Year
2. Facebook banning all the ICOs and Bitcoin ads (Though it wont have larger impact but it is ...
Bitcoin in 4Hour chart looks very interesting. We have to see how it breaks the resistance and support lines marked in Yellow color.
Please find the updated chart analysis of Bitcoin, I am still bearish on bitcoin until the CME futures expiry on 26th Jan.
Lets see how BTC wants to break out bullish or bearish.
But considering the Total Market Cap and Bitcoin dominance I dont see any huge volume for Bitcoin to be bullish.
PS: I am not your financial advisor and these analysis is only for ...
For better understanding I have marked resistance lines in Blue color while the Support lines in Yellow color.
Currently we need to see how the resistance and support holds
My expectation is if it created double top then it has to break the Support line.
BTC brokeout the support line which was marked in Yellow color should see now how the resistance and support line in white color will hold
Though Bitcoin broke out in 15 Min chart its not a strong break out!
Should wait and see how it behaves, as CME contract expires on 26th many are expecting bitcoin to be bearish.