Hello traders!
I have been recently watching the Bitcoin chart and I am bullish at the moment.
We can see a falling wedge and a double bottom, both bullish patterns. There is still a long way to go and we could see another leg down to 6k but i don't think that we are going lower than that. I see a lot of people calling 2-3k, and when a lot of people call that, it's probably not going to happen.
Using Ichimoku, we can see that Kijun (the brown line) acted as a resistance, and it could keep acting like this if we get close to it. To be extremely bullish we should overcome the falling wedge and the Kijun support.
I would stop being bullish if the falling wedge and double bottom get invalidated.
- THIS IS NOT FINANCIAL ADIVCE -
I have been recently watching the Bitcoin chart and I am bullish at the moment.
We can see a falling wedge and a double bottom, both bullish patterns. There is still a long way to go and we could see another leg down to 6k but i don't think that we are going lower than that. I see a lot of people calling 2-3k, and when a lot of people call that, it's probably not going to happen.
Using Ichimoku, we can see that Kijun (the brown line) acted as a resistance, and it could keep acting like this if we get close to it. To be extremely bullish we should overcome the falling wedge and the Kijun support.
I would stop being bullish if the falling wedge and double bottom get invalidated.
- THIS IS NOT FINANCIAL ADIVCE -
Trade active:
Bullish pennant in the 4h chart. If we can't break the 9k resistance after breaking the pennant I see most likely a retrace to 8.4k
Bullish pennant in the 4h chart. If we can't break the 9k resistance after breaking the pennant I see most likely a retrace to 8.4k