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ProficientForex
Jan 22, 2021 10:54 AM

BTC: Double Zigzag pattern 

Bitcoin / U.S. dollarBitstamp

Description

In the 240-minute chart, the structure of the downtrend is in triple waves format, which firstly was detected in the form of a Triangle, but after the price development from the range of 30300, the scenario converted to the Double Zigzag pattern. There is another probability for price reduction up to the range of $26800.
In any case, while we can’t get the confirmation for the uptrend that the price crosses the range of $ 37874, in this case, is the targets of the uptrend are in the range of $ 48,000 to $ 52,000
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