Bitcoin is in a value area in the current range and is forming some patterns. Considering that we are at the beginning of the pattern, It is not possible to accurately identify the pattern. We are currently exploring possible patterns.
One of the current probable patterns is the descending triangle pattern. If this pattern is confirmed in the future, it makes 2 predictions about the future of Bitcoin more likely:
1- Breakdown usually happens in this pattern
2- Due to the current size, Bitcoin will probably remain in this price range for a little more than a month
One of the current probable patterns is the descending triangle pattern. If this pattern is confirmed in the future, it makes 2 predictions about the future of Bitcoin more likely:
1- Breakdown usually happens in this pattern
2- Due to the current size, Bitcoin will probably remain in this price range for a little more than a month
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.