Bitcoin is gearing up for another big push to the upside.
A clear descending wedge, Stoch RSI cross looking bullish, and coming to the bottom of this range.
At the moment, these are the ranges I see for Bitcoin. The pivot points seen on the left hand side of the supports and resistances. Selling R1 and R2 and buying S1 and S2 is a good strategy.
Buying points...
XBTUSDT(4h) trading within a descending channel (green main line) confirming continuation of bearish price action. However, a bullish divergence (blue) has formed which may tempt those looking to build an early long position.
Overall though, the trend is still down so overall position is short. Levels to watch are in and around 3500 (purple) which previously...
Is there any hope for a rise in the price of Bitcoin?
Well imo technically there may well be. In the short term I wouldn't be surprised to see a retest of the 3145 low area, however if price doesn't go lower and can break current support at 3518, then an attempt at 6000 and above may well be on the cards. But of course, and as can be seen we have a significant...
Been waiting to see the pattern formation play out..We seem to be on the final leg upwards of an WXYZ playing out with a clear Fib zone. The 0.238 fib correctioni was met and we are now looking to play upto 3775 in my opinion.
This is not financial advice just my humble observations.
By looking at the previous pattern we do see a repetition that is beginning to unravel itself, do we go down the same road, I believe we could easily see a new low of 1900 USD.
Furthermore should we breack out of the triangle and up wards, we could easily see XBT returning to it's previous support at 6000 USD.
However I believe that XBT still haves room to drop...
Looks to me like a big triangle, I think I've mentioned before. I'm leaning bullish, looks like a small descending wedge which could kick start us on the way to test the top. Once there would need to reassess to see if there's a chance it being broken for a nice bullish move which might bring back some volume to the market.
If it breaks down I'd expect us to test...
Im usually not into fractals but check this out, maybe where we are at is accumulation before we bump to punch the neck line of the h n s?
Im by no means a ta, absolute noob really...
So this looks like an organised mess - because quite frankly that's what it is :see_no_evil:. But I've tried to overlay various pivot points/ channels onto the chart to get an idea of levels to watch. 'Potentially' - we've formed a big triangle (see how the pivots/ channels align in the middle), and though its far too early to say - could give us another move for...
We already ranging for a bit. Breakout could go any direction. I would guess we break down from here. Higher time frames look bearish. But #Finex will be down tomorrow for 7 hours. Usually leads to pump. So sitting on my hedged position and waiting for a confirmed breakout in one direction.
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