At previous analysis, we success to buy bottom at 6179 and sell top at 6735. Congratulation ^_^
Today we found new pattern.
As u can see that bitcoin perform descending triangle pattern.
this is bad news for bullish, coz if 6369 support line break down,
bearish will continue to reach major support at 6122 to perform triple bottom pattern,
with maximum bearish target at 5923 descending triangle projection, this projection are August 13 support.
But, we also have bullish pattern perform,
As u can see, right now bearish stop at 0.618 fibonacci point.
if 6369 support line able to hold bearish movement,
we have new bullish target at 1.618 fibonacci projection at 7096
Bullish or bearish, all depend on price action today.
To understand more about this technical analysis,
please check our daily analysis video.
Previous analysis :
Today we found new pattern.
As u can see that bitcoin perform descending triangle pattern.
this is bad news for bullish, coz if 6369 support line break down,
bearish will continue to reach major support at 6122 to perform triple bottom pattern,
with maximum bearish target at 5923 descending triangle projection, this projection are August 13 support.
But, we also have bullish pattern perform,
As u can see, right now bearish stop at 0.618 fibonacci point.
if 6369 support line able to hold bearish movement,
we have new bullish target at 1.618 fibonacci projection at 7096
Bullish or bearish, all depend on price action today.
To understand more about this technical analysis,
please check our daily analysis video.
Previous analysis :
Technical Analysis Online Private open for 2 student. PM for detail
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