[08/15] Beast Trading _ Today's Bitcoin Perspective
Beast Trading _ Today's Bitcoin Perspective
Bitcoin broke its previous high of 24.9k and reached 25k. After that, I thought it was going down quite steeply, but now it's rising strongly toward a new all-time high (25k).
Today, from a big perspective, we will check the future direction of response, patterns, and important lines that have appeared.
First, the downward trend line from 32k, which I mentioned before. (Blue trend line)
It has been on the decline for a long time since 32k, and Bitcoin has recently risen and met with resistance to this line, but it seems to have been supported by penetrating it again.
This is a relatively mid- to long-term downward trend, so it can be analyzed that it can be a little positive factor for the rise for the time being.
The second is a purple parallel channel.
I've also mentioned this countless times in the market, and both 20.7k and 22.7k, which began to rebound significantly, hit the bottom line of the parallel channel and began to shoot strongly.
Through this, I think it can be interpreted as meaning that I will protect this channel without leaving it, which is also a positive factor for the rise.
The third is a large wedge pattern. (Orange)
The top line connecting the high points also fits perfectly, and the bottom line is clean.
Breaking through the top of the wedge is likely to be accompanied by a strong rise, and breaking through the bottom line is likely to be accompanied by a strong fall.
You have to check the top and bottom lines of this wedge pattern.
Finally, a small wedge. (Red wedge pattern)
This wedge pattern up and down seems like a pretty significant pattern, although it's not strong resistance and strong support.
However, you've already crossed the top while writing your analysis. I think it's the result of empowering further increases.
Bitcoin broke its previous high of 24.9k and reached 25k. After that, I thought it was going down quite steeply, but now it's rising strongly toward a new all-time high (25k).
Today, from a big perspective, we will check the future direction of response, patterns, and important lines that have appeared.
First, the downward trend line from 32k, which I mentioned before. (Blue trend line)
It has been on the decline for a long time since 32k, and Bitcoin has recently risen and met with resistance to this line, but it seems to have been supported by penetrating it again.
This is a relatively mid- to long-term downward trend, so it can be analyzed that it can be a little positive factor for the rise for the time being.
The second is a purple parallel channel.
I've also mentioned this countless times in the market, and both 20.7k and 22.7k, which began to rebound significantly, hit the bottom line of the parallel channel and began to shoot strongly.
Through this, I think it can be interpreted as meaning that I will protect this channel without leaving it, which is also a positive factor for the rise.
The third is a large wedge pattern. (Orange)
The top line connecting the high points also fits perfectly, and the bottom line is clean.
Breaking through the top of the wedge is likely to be accompanied by a strong rise, and breaking through the bottom line is likely to be accompanied by a strong fall.
You have to check the top and bottom lines of this wedge pattern.
Finally, a small wedge. (Red wedge pattern)
This wedge pattern up and down seems like a pretty significant pattern, although it's not strong resistance and strong support.
However, you've already crossed the top while writing your analysis. I think it's the result of empowering further increases.