Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTC).
The BTC price has a possible Head and Shoulders Pattern and/or Triple Top Formation forming. Generally in a H&S Pattern, the right shoulder is smaller than the left shoulder. In this case, there is significant resistance around the $60K range as indicated by the VPVR. Assuming the price drops from that point and the bull cycle is complete, the drop in BTC price of 80% (average from prior years) could bring the price to around $12K, where there is significant support. Lastly, there is a potential bull flag forming in the recent price action, which has a measured move inside the resistance box.
Please review the notes within the charts as I outlined many things including a possible bull cycle date. Naturally this is all future predictions so let's see day by day how it goes.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
The BTC price has a possible Head and Shoulders Pattern and/or Triple Top Formation forming. Generally in a H&S Pattern, the right shoulder is smaller than the left shoulder. In this case, there is significant resistance around the $60K range as indicated by the VPVR. Assuming the price drops from that point and the bull cycle is complete, the drop in BTC price of 80% (average from prior years) could bring the price to around $12K, where there is significant support. Lastly, there is a potential bull flag forming in the recent price action, which has a measured move inside the resistance box.
Please review the notes within the charts as I outlined many things including a possible bull cycle date. Naturally this is all future predictions so let's see day by day how it goes.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
I chart on Tradingview: www.tradingview.com/symbols/BTCUSD/?aff_id=25106
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
