#BTC Shorter timeframe update
In this 6h time frame BTC is making this bullish expanding triangle pattern
but to confirm this pattern we need a breakout and currently, it is holding above at the lower support of this pattern, we also have 200ma as a support.
IMO We can some bounce in the BTC because usdt dominance is at the resistance
To invalided this pattern BTC need to breakdown the lower support of this pattern.
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Comment:
#BTC
The ascending trendline and the MA 50 are being held above by BTC. The market has had a very low volume for over 128 days.
The market is currently in a contraction period, so an expansion move is possible. A turbulent move is anticipated soon. To determine the direction the market will take next, a large volume is needed.
The ascending trendline and the MA 50 are being held above by BTC. The market has had a very low volume for over 128 days.
The market is currently in a contraction period, so an expansion move is possible. A turbulent move is anticipated soon. To determine the direction the market will take next, a large volume is needed.
Comment:
#BTC
On the 4H timeframe, BTC is moving in a falling wedge pattern. It is still staying above the trendline, acting as support. The RSI is developing a positive divergence and is oversold.
A persistent collapse of trendline support would be another warning flag for the bears, while bulls need to demonstrate some impetus for the bullish rise.
#BTC
On the 4H timeframe, BTC is moving in a falling wedge pattern. It is still staying above the trendline, acting as support. The RSI is developing a positive divergence and is oversold.
A persistent collapse of trendline support would be another warning flag for the bears, while bulls need to demonstrate some impetus for the bullish rise.
Comment:
#BTC
After the breakout of the falling wedge, BTC pumped at a respectable volume. Additionally, bullish divergence worked out perfectly. Retesting was done above the MA 50 and the Ichimoku cloud after it was rejected from the MA 200.
The continuation of the bullish trend would be indicated by a successful retest and breakout of the MA 200, but a correction is also anticipated in the event of a failed retest.
After the breakout of the falling wedge, BTC pumped at a respectable volume. Additionally, bullish divergence worked out perfectly. Retesting was done above the MA 50 and the Ichimoku cloud after it was rejected from the MA 200.
The continuation of the bullish trend would be indicated by a successful retest and breakout of the MA 200, but a correction is also anticipated in the event of a failed retest.
BTC is making this falling wedge pattern, but we need a breakout of this pattern to confirm the next move.
If it breaks down the lower level of this pattern, then this pattern will be invalidated.