As the chart describes, the pattern started at BTC ATH at 41.8.
BTC dropped after bullish momentum was lost.
What do you think is the next step for BTC, this chart describes the bigger picture of btc. Will 35 k break, resulting in a new trend?
My guess is the 35 k resistance will bounce btc back to 32 k.
To get the context of this post, please refer to my last idea. It is of my opinion that BTC is not ready yet to re-test previous highs. Excitement of the recent Bitcoin bull rally and now the correction, leaves opportunity for excited newcomers to join in at the next opportunity of buying. As noted we see price breached the key zone noted in my last idea,...
as always, here is my update on the BTC price.
At the moment, it is really very very boring as far as BTC trading is concerned^^ We are still in our descanding triangle. In my opinion, at the moment everyone is waiting to see which direction it will break out in. Volume is also steadily decreasing which once again reinforces a breakout to the...
Simple charting. We are forming a short term rising wedge. Continuation of the bear trend. We may bounce from 32k, we may fall out of the wedge. Price rise to test the air gap in the Ichimoku cloud but was rejected and we have fallen through the kijun and tenkan lines. We may see a bounce at just under 32k to re-test the cloud. Ultimately I think we re-test 29k,...
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Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of...
enclosed is as every day my update on the BTC price!
Not much happened in the night to today. We are consolidating at the moment at around $32,000. Personally, I don't think we can expect any big moves from BTC at the moment. However, after such a bull run this is also normal. At the moment, we need to hold the support from our descending...