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.
We were close to breaking up the last peak at $6860.
We are over Tenkan-Sen and Zero Lag EMA.
But on Weis Volume Indicator there is no volume yet.
We think this is why everyone is waiting for the news from SEC regarding ETFs.
Do you think guys this is the case?
If you are interested give us your feedback
WBM_Team
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Thanks for such a good analysis. Check out our long-term analysis of BTC. We assume 10% of gold, coins and banknotes will flood into crypto. This would have a massive influence on the price. $1,65 trillion into crypto and 50% of then into BTC. Are you curious? Here are more details.
MRCHARTPRO
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wow! this guy is the best!!!!
lucita74
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Hi @DianKemala, Great analysis, very clean. Thank you.
The 6369 support line didn't break down, can we expect to reach the fib 1.618 projection, right?
It looks like the 6554 resistance is holding the price to go higher.
Great job on the charts.
Thanks a lot for the work you do and share with the community.
Namaste.