OK so we have few possible scenarios to choose from. Let’s start with simple support and resistance
Looking on 1H chart BTC broke resistance and if successfully close above it blue bar become support and that’s a good base to go up to somewhere around 8100
Now wedge. As You can see we are touching (almost) top edge and if broke up we go up but because this is falling wedge we have more chances to go down to around 7500 - bottom edge. Please remember our blue support which can help us to go up in that case.
Now we have ascending triangle which broke and confirmed ages ago so here we only can go up to around 8100 and again recent support will help us to do it.
Now we go complex - head and shoulders ( inverse ) It’s not simple H&S but there are definitely good foundations for healthy one. That would give us chance to climb to 8500.
Last one is AB=CD Blue box is a potential reversal zone so price can turn there and start dropping. That would play well with our wedge
So as You see it’s not that easy this time to choose direction.
For more info and updates join telegram channel
This information is not a recommendation to buy or sell.
Looking on 1H chart BTC broke resistance and if successfully close above it blue bar become support and that’s a good base to go up to somewhere around 8100
Now wedge. As You can see we are touching (almost) top edge and if broke up we go up but because this is falling wedge we have more chances to go down to around 7500 - bottom edge. Please remember our blue support which can help us to go up in that case.
Now we have ascending triangle which broke and confirmed ages ago so here we only can go up to around 8100 and again recent support will help us to do it.
Now we go complex - head and shoulders ( inverse ) It’s not simple H&S but there are definitely good foundations for healthy one. That would give us chance to climb to 8500.
Last one is AB=CD Blue box is a potential reversal zone so price can turn there and start dropping. That would play well with our wedge
So as You see it’s not that easy this time to choose direction.
For more info and updates join telegram channel
This information is not a recommendation to buy or sell.