White Line has held support. However, if the price breaks line of support view the green and gold trend lines as the next major areas of support
FOMC Announcement 18th March will play important role in dictating bitcoin price.
Rising Wedge pattern seems to be forming which confirms my bearish thesis
As previously mentioned I'm starting to see falling wedges with a lot of major currencies against the US dollar which signals there will be a shift in the forex market in the near distant future
The yellow trend line could act as potential resistance which could see the market either break up or down by the third week of March. I'm starting to lean bearish as I'm not totally convinced by this bounce.
If bitcoin breaks my white support line I will be leaning slightly bearish. However, my inverted head and shoulders pattern is still in play. My cup and handle pattern is also in play, but for the cup and handle to play out it must hold and bounce off $8280 support
Something big is going to happen with the US dollar which I believe is going to be negative or positive. I also see a similar pattern with the EUR/USD where there is also a falling wedge on the monthly time frame.
Price is currently following the rising channel which helps to illustrate the average price, as long as we remain in the channel
If price doesn't break $9450 now then it will look like we are in a descending triangle which is really bearish short term
Bitcoin due to drop very soon, green horizontal lines are areas of support. There is also potential for a cup and handle for bitcoin which is bullish long term.
price looks like it maybe in a pennant formation which may breakout on the 25th or 26th
price is about to hit my trend line which may act as resistance
Just noticed it now, looks like we might be heading lower as I first thought