BTC/USDT Update.
Bitcoin is currently forming a pattern which is known as the Compound Fulcrum. The pattern is rare but very Bullish pattern, It has seen great improvement in Price in months of September before and this month it has been forming Higher lows, Which indicates it is Gaining Momentum.
If you look in the Chart, It consists of an inverse head and shoulders and a head and shoulders trading inside a wedge. BTC Has to make a movement soon and Looks like it will be Up!
In the Bearish scenario, I feel if we went to test the Huge trendline support at $6000-$6100 again, We'll most likely break down this time to $5200-$5900 areas.
We've been drawing Descending Triangles, But this can aslo be a Falling wedge, Which is all the things Fulcrum Pattern consists.
Bitcoin is currently forming a pattern which is known as the Compound Fulcrum. The pattern is rare but very Bullish pattern, It has seen great improvement in Price in months of September before and this month it has been forming Higher lows, Which indicates it is Gaining Momentum.
If you look in the Chart, It consists of an inverse head and shoulders and a head and shoulders trading inside a wedge. BTC Has to make a movement soon and Looks like it will be Up!
In the Bearish scenario, I feel if we went to test the Huge trendline support at $6000-$6100 again, We'll most likely break down this time to $5200-$5900 areas.
We've been drawing Descending Triangles, But this can aslo be a Falling wedge, Which is all the things Fulcrum Pattern consists.
Comment:
Falling Wedge!
Comment:
Volume and Price decreasing, Which is a Bullish sign as well
Volume and Price decreasing, Which is a Bullish sign as well