The price has managed to cross its ceiling and the resistance zone in the four-hour time frame with a strong audio momentum, but considering the weakness that can be seen in the price after breaking the resistance, this movement seems to be a fake failure and I expect that with If the price comes below the resistance zone, price correction will occur in this currency
For those still following at home, a final update before we get our enviable cross on our custom coded Cycle Bottom Indicator first live test. As per previous posts, indicator has been fitted using the past two prior cycle bottoms with a 3 day tolerance.
Considering the double top pattern formed in this width and the failure of its support and pullback in the lower time frame, if the price falls further, I expect to reach the daily support floor.
The price of this currency has reached its resistance zone with the shortening of the upward steps, and it is currently weak, and seeing the reversal candlestick pattern, it is suitable for a short position.
After the upward rally of this currency compared to the market as a whole, we are currently experiencing weakness in the upward trend and the double lag of the recent upward step and the increase in the length of the corrective step, and as can be seen in the chart of this currency with the Bitcoin pair, the price cannot reach the midline of the channel and the...
The upward trend line is lost and the selling pressure in the market is very high and the probability of this currency falling is very high
Considering that the price is close to the resistance zone in the daily time frame and observing the weakness in the upward trend, we can expect the price to be rejected from the 0.86 area and corrected to around 0.7.
The price has been unable to reach its ceiling again in the cushion work and is currently losing its upward trend line. According to these points, the price is expected to fall to the previous floor.
The upward trend line has lost its position and is ready to fall, and due to the lower difficulties that have formed, the upward trend is expected to change to a downward trend.
As you can see, the price has reached its resistance in the 4-hour time frame and has had a strong rejection from that area, and it has covered the previous candles with a long candlestick. When the price comes below this candlestick, the price is expected to fall further.
As it is clear in the price chart, the price has formed a double ceiling pattern and managed to penetrate below the support zone in the lower time frame. It seems that with further price drop, we will see the price move to lower areas
The situation of Bitcoin in the 4-hour time frame, considering the strong movement of the previous fall and the closure of the markets in the next day or two, seems to fluctuate in the form of a pattern like a triangle, and it is more likely that it will leave the bottom of the triangle to complete the 5th wave and go to The support ranges will reach 17800 and...
Due to the rejection of the price from the resistance, the probability of falling is high
The head and shoulder pattern is formed and the neckline is broken and the price is being bridged to the broken area. By seeing the appropriate Kendall pattern and returning the price, one can enter the short position.
Due to the price reaching the resistance area and the inability to form a high ceiling, the price is more likely to fall.
The price has lost its upward momentum by reaching the resistance zone, and in case of confirmation, it is suitable for entering the short trading.
In this width, we see that the resistance is broken in 4 hours, the set and the candle are closed for 4 hours above the resistance.
Due to the failure of the resistance in the time form, 4 hours after the pullback to the broken area, it is waiting for the top purchase in this supply.