imran_charting

imran_charting

Possible target of 30200 but caution advised as volume not confirming...

imran_charting

Bulls continue to buy up any small sell-off...

imran_charting

Bitcoin has finally broken above 35200 however there doesn't seem to be much volume follow through. While the break is highly bullish and signals higher prices, caution is advised. It would probably be best to wait for the formation of the second hourly candle before committing to a long position (this move could potentially be a fake out).

imran_charting

Are we perhaps seeing the formation of the right shoulder of a massive head and shoulders topping pattern that could see the price fall all the way down to 20k if the 30k level is broken??? While at this stage 20k may seem highly unlikely, lets not forget during Bitcoin bull cycles, pullbacks of 30%-50% are all but normal. Time will tell...

imran_charting

Bitcoin currently at a critical level, the next few candles will be telling...

imran_charting

After a big selloff, price has retraced back to test the underside of previous support (now resistance), which also happens to line up perfectly with the 61.8% Fib retracement level, this is also a test of the downward sloping trend line.

imran_charting

Bitcoin slowly reaching the end of the rising triangle, the breakout should give us a clear indication of the direction for bitcoin. However it seems more likely that Bitcoin will continue to the upside as the trend is still bullish and rising triangles often resolve to the upside. Time will tell...