What bearish pennant support line we will finally have?, it looks like today we bounced back in line one, but in the RSI we didn't hit the bottom support line yet (line 2) so we most probably could hit that one as expected before and bounce back after because in the 4 hours chart match more perfectly but if not we could move to hit the top line of the pennant from...
How many times are we going to retest this rising wedge? now it looks we are starting forming an ascending channel, so we will need to break it down to hit the support line of the pennant, otherwise we could break the pennant up, it was acting as a resistance before (see daily chart idea for pennant).
My bearish scenario still in place, and we didn't hit the target yet but I still believe we could and have another touch in the support line of this bearish pennant and now I am not sure if we will break it down, there are some bullish divergence in the RSI that could indicate a trend reversal but this is not 100% accurate so lets see what plays first, we could...
We are confirming this breakdown of the Rising Wedge in this 4 hours chart and BTC had been making strong support in this 21 EMA, I still believe we could hit the target down if we manage to pass the 21EMA with the full body of the candle out.
We are about to breakdown a Rising Wedge, the target would be exactly the bottom of this possible bearish pennant in early formation at $32,100 and the target after for the bearish pennant breakdown could be exactly in the strong support line (you can clearly see it in daily chart or here if you follow the orange line at $22,500 and see it yourself) this is a very...
we are trying to break up a falling wedge inside a Rising wedge and also a W formation, if we break the neckline we could see prices moving very fast and hit the top of the wedge soon.
BTC is having difficulties to breakout the small falling wedge inside this rising wedge,we need to manage to break this up to continue otherwise we could break this down at any time from now, we have less than 5 hours left to break this up otherwise expect the worst.
We are forming another clear Rising Wedge, visible in multiple time frames, including the 4 hours chart, we broke down a pennant inside the wedge and we should now hit the support line of this wedge and I believe we could have another touch to the upside before we break this most probably tomorrow, but it could happen before too, so we should continue making this...
BTC in difficulties to pass that resistance line, also out of the ascending channel and also indecision candles too, we need to go inside again and breakup that resistance line in order to continue up otherwise we could drop heavily and create a new lower low.
This could be a falling wedge, but it didn't hit the middle part of it, not 100% sure, it also could be a descending channel, whatever it is it will break this week and we could see a big move very soon.
We need to be on top of this 21 EMA to start pumping up, is now acting as a resistance, if not we could go inside this wedge again.
Bitcoin just broke this falling wedge, we could confirm or go straight to the target today, lets see what plays out.
Btc have formed a top diamond pattern and a Rising Wedge about to break down I believe.
Btc is forming a rising wedge,it is much more clear and easy to connect the lines in this 15 mins chart, you can also observe it in the one hour chart, this could be more likely a break down soon today with a price move of $3,500 from the break point.
In this Logarithmic Monthly chart every time the curve broke the bear market started, we have not broken ours yet, we have to start a new candle next Month above $38,800 to continue up if not the bear market could be confirmed, if we start above that price we could see a massive parabolic move.
Btc tried to pass the 200 daily EMA two days in a row unsuccessfully, this could be very bad for BTC.
We could be in the way to $30,000 again, we broke this bearish pennant formation in the one hour chart and now btc looks critical.
scenario 2: possible broken falling wedge with confirmation and target was hit today, we should start breathing for now if is not a descending triangle in my idea 1, good luck everyone.