thenwhat

thenwhat

If Bitcoin manages to climb above the MA50 and holds on to it, then we can see another good move up towards the resistance level at 28 000+. The opposite scenario, if a false breakout occurs and then the price goes down to the support level at 26000. This post is for educational purposes. This is not financial or trading advice.

thenwhat

Well, the triangle pattern worked out as well as the rising wedge previously. There was a false breakout, but this is a fairly typical situation for Bitcoin before making a good move. What's happening now. It can be clearly seen that Bitcoin is forming an upward channel, marked on the chart in green. And here is another rising wedge inside the channel, so could...

thenwhat

The rising wedge worked out perfectly, see the previous analysis on BTC. Now there is another interesting set up is being formed right now. The price is inside the triangle, MA 50 crossed MA 100 from above. And at the same time, we see a slight divergence on the RSI. If the price can overcome and hold the 23300+ level, or in other words, above MA50 and MA100,...

thenwhat Updated 

There is a pretty obvious rising wedge on the 1H chart. Look for price action to determine the further BTC direction. It would be good if BTC makes retracement and then continue its upward movement.