From the chart we can see various phases for Bitcoin. In technical analysis, we have various patterns for various phases of the market.
Impulse - large bodied candles signifying strong move in the market
Ascending/Descending corrections - happens at the end of a trend indicating a reversal is near
Flags & Pennants - a trend continuation pattern
We can see that we are approaching a high value area in a descending fashion indicating that we may get a reversal. The key price to look at is the $30K where we have previous structure.
Watching for lower timeframe buying pressure and pattern indicating the reversal is taking place.
Goodluck and trade safe!
Impulse - large bodied candles signifying strong move in the market
Ascending/Descending corrections - happens at the end of a trend indicating a reversal is near
Flags & Pennants - a trend continuation pattern
We can see that we are approaching a high value area in a descending fashion indicating that we may get a reversal. The key price to look at is the $30K where we have previous structure.
Watching for lower timeframe buying pressure and pattern indicating the reversal is taking place.
Goodluck and trade safe!
Comment:
Comment:
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Crypto VIP: t.me/CryptoWickBot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Crypto VIP: t.me/CryptoWickBot
