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** The Channel Up **
Back to the short-term. Since May 7th, the dominant pattern (1.5 months and running) is a Channel Up. This has an Inner Higher Lows trend-line that has been supporting since May 25th and is in fact the one that has (so far) supported the recent decline (3rd contact as you see).
** The **
The less dominant pattern is a (dotted lines) since June 1st. This has been crossed by a wick to the downside only once, which is not relevant. This pattern also supported today the decline so along with the Inner Higher Lows trend-line apply a double (cross).
** The **
On top of that the 4H has touched and so far rebounded on the 31.000 - 27.000 , which is holding and providing rebounds since the March bottom.
** The hidden Parabola **
Among these obvious patterns there is an underlying trend made of a Parabola that is defining the (Lower so far but could change to Higher) Highs. Every High is making contact with this Parabola on a higher Fibonacci level. If this continues to play out, then we should see $9900 in 10 days.
I hope you enjoyed today's short-term BTC analysis. Let me know if you agree or not with the above and feel free to share your work in the comments section!
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My imagination of uptrend decreased u know
Look at these lines
Breaking red line just happened
I have to say 4h is trying to form a convergence here
But its too soon for a good reaction
If it confirm it, we can see 9600 area
Rejection of it(which I believe more to 8800 as support line) means 8k area
Sorry for bad quality im using phone now ...