Briefly Bitcoin is in the making and forming a huge Ascending Triangle (in Red Dots). We are now in the beginning of that process, Although usually this pattern is very Bullish, but we have a road to march in order to achieve that. As of now, We are at the end of the small third rising wedge to complete, witch is within the medium size ascending triangle( Bullish pattern in Green lines), witch also within the huge ascending triangle (in Red Dots)...
Bitcoin is expected to breakouts from the green triangle and reach the 66k, at this point if you look at the RSI and Squeeze Momentum indicators shows that Bitcoin BTC lost its strength and the volume is very low, big institutions will start collecting their profits here. Bitcoin will start taking shape according to the descending wedge that formed on the RSI indicators, I expect to fall back to 60k, than to 54k, up to 59k, down to 50k and to 42k.... From there we have reach the support line in the Ascending triangle (Red Dots) and the road to 70k or higher will start from there...
I will include 2 daily charts images with different zoom percentages to get a better idea of the whole picture.
Please Trade at your own risk.....
Bitcoin is expected to breakouts from the green triangle and reach the 66k, at this point if you look at the RSI and Squeeze Momentum indicators shows that Bitcoin BTC lost its strength and the volume is very low, big institutions will start collecting their profits here. Bitcoin will start taking shape according to the descending wedge that formed on the RSI indicators, I expect to fall back to 60k, than to 54k, up to 59k, down to 50k and to 42k.... From there we have reach the support line in the Ascending triangle (Red Dots) and the road to 70k or higher will start from there...
I will include 2 daily charts images with different zoom percentages to get a better idea of the whole picture.
Please Trade at your own risk.....
Comment:
Comment:
Another possibility as well