Technical analysis regarding the price of BITCOIN in relation of dollar for the next scenarios, based on 4h movement.
First of all, you have to agree that it is a beautiful analysis with confluence! Projecting the beginning of the symmetrical triangle that occurred on this graph, right at the break of the uptrend line, we took the target that the price could reach and, just by tracing a FIBONACCI in this correction leg, the price was on the projected target! However, the price is moving higher with the Parabolic SAR moving upwards (the price I come to look for this support region projected on the green line).
The price has already broken through the 89-period Moving Average. Well, the price could form a descending top again and fall to the projected region. Who knows!?
disclaimer *** This is not a recommendation to purchase and/or sale. It is for educational purposes only. ***