Chart Pattern Analysis Of Bitcoin
K1 is a bullish hammer candle,
K2 verified it, and it nearly break up K1.
The supply pressure sharply decreased here.
So, it is possible that the short-term downtrend will be reversed here.
If the following candles fall back to test 0.5fib line under low volume,
It will be a good place to buy in.
Long-63000/Stop-62200/Target-70888
Short-70900/Stop-71800/Target-66000
Comment:
K2 touched the short-term downtrend line under low volume,
The supply pressure still at low level.
If K3 close below K2 with sharply increased volume,
The risk will increase.
If the following candles fall back to test K1 with low volume,
It will be a good place to buy in.
Long-66255/Stop-65115/Target-69888
Short-70209/Stop-71236/Target-65000
K2 touched the short-term downtrend line under low volume,
The supply pressure still at low level.
If K3 close below K2 with sharply increased volume,
The risk will increase.
If the following candles fall back to test K1 with low volume,
It will be a good place to buy in.
Long-66255/Stop-65115/Target-69888
Short-70209/Stop-71236/Target-65000
Comment:
Candles were trapped into a dead corner.
The supply pressure temporarily keeps at low level.
So, it is likely that the following candles will choose a direction to price up or break down to test other position’s supply or demand pressure.
If the following candles close upon the downtrend line,
And retest it under low volume,
It will be a good place to buy in.
Long-66218/Stop-65218/Target-70600
Short-71400/Stop-72400/Target-65800
Candles were trapped into a dead corner.
The supply pressure temporarily keeps at low level.
So, it is likely that the following candles will choose a direction to price up or break down to test other position’s supply or demand pressure.
If the following candles close upon the downtrend line,
And retest it under low volume,
It will be a good place to buy in.
Long-66218/Stop-65218/Target-70600
Short-71400/Stop-72400/Target-65800
Comment:
From K1 to K3,
It is strong bearish evening star pattern with average increased volume.
If the bear market want to expand,
The supply pressure must be higher.
If the following candles price up to test the resistance under sharply increased volume,
It will be a good place to sell it there.
If the following candles drop to test the support.
It is also a potential good place to buy there.
Buy-61588/Stop-60588/Target-67000
Sell-65069/Stop-66069/Target-61640
From K1 to K3,
It is strong bearish evening star pattern with average increased volume.
If the bear market want to expand,
The supply pressure must be higher.
If the following candles price up to test the resistance under sharply increased volume,
It will be a good place to sell it there.
If the following candles drop to test the support.
It is also a potential good place to buy there.
Buy-61588/Stop-60588/Target-67000
Sell-65069/Stop-66069/Target-61640
Comment:
If the following candles price up to test the resistance under sharply increased volume,
It will be a good place to sell it there.
If the following candles drop to test the support.
It is also a potential good place to buy there.
Sell-65500/Stop-66500/Target-61888
If the following candles price up to test the resistance under sharply increased volume,
It will be a good place to sell it there.
If the following candles drop to test the support.
It is also a potential good place to buy there.
Sell-65500/Stop-66500/Target-61888
Comment:
Candles were trapped into a dead corner.
It is likely that the following candles will choose a direction to price up or break down.
If the following candles close upon the downtrend line,
It will be a good place to buy in.
If the following candles price up to test the downtrend line under sharply increased volume.
It will be a good place to sell it there.
Sell-65250/Stop-66250/Target-62188
Candles were trapped into a dead corner.
It is likely that the following candles will choose a direction to price up or break down.
If the following candles close upon the downtrend line,
It will be a good place to buy in.
If the following candles price up to test the downtrend line under sharply increased volume.
It will be a good place to sell it there.
Sell-65250/Stop-66250/Target-62188
Comment:
K3 tested the lower price area of K0 for a second time under decreased volume,
A rebound or reverse is expected.
If the following candles close upon the downtrend line,
It will be a good place to buy in.
If the following candles price up to test the downtrend line under sharply increased volume.
It will be a good place to sell it there.
Sell-63800/Stop-64800/Target-59500
K3 tested the lower price area of K0 for a second time under decreased volume,
A rebound or reverse is expected.
If the following candles close upon the downtrend line,
It will be a good place to buy in.
If the following candles price up to test the downtrend line under sharply increased volume.
It will be a good place to sell it there.
Sell-63800/Stop-64800/Target-59500
K1 is a bullish hammer candle,
K2 and K3 verified it, and they stand upon the neck line.
The supply pressure sharply decreased here.
So, it is possible that the short-term downtrend will be reversed here.
If the following candles fall back to test 0.5fib line under low volume,
It will be a good place to buy in.
Long-63000/Stop-61666/Target-70888
Long-66900/Stop-65900/Target-70888 (only when price break up K3).
Short-72236/Stop-71236/Target-66000