On the 1H chart, a bearish triangle is forming on the BTC/USDT chart. Looking at the fact that Bitcoin has failed to breach the $20k wall two times now, it might be time for a healthy short term correction. Support 1 would be my best guess where the price could reverse in . Today we received the long signal from the Automatic Engulfing Strategy Bot. The price formed the descending Elliott waves pattern (1,2,3,4,5), it is commonly known that there is a high probability of forming two ascending waves (A,B,C). BNBUSDT - It is either finished the 5th of 3rd of C wave up as truncated 5th OR it may extend the cycle up. so go pump it above new high or sell on bounc once the impulse down cycle confirmed in 5 min time frame down side with bounce with stop level above last high.
Btc usdt tradingviewXBTUSDT Charts and Quotes — TradingView
If that consolidation phase bounces across and slowly moves down BTC will form a bullish flag for another move forward. That's the formation I'm watching for. In these sideways Wave C accelerating as expected. BTC is in a pennant pattern. A break above it's current mark blue arrow on the chart and BTC could challenge it's all time high again Area indicated in a yellow circle on the chart.
It all depends on which side of the pennant BTC decides to exit. Similar setup as to when BTC past the 20K mark 2 posts back If BTC is able to break above and out of it's current pennant pattern it should have a large enough push to challenge the all time high of If BTC can't hold above the level if will fall to previous support of Hi friends, this is the first analysis I have published here.
On the 4 hour time frame BTC has first feigned a drop out of the current pennant pattern, then proceeded to break out the top. The confirmation is the wick marked "new support". Do you see the way it retracted quickly like it touched something hot? Since Bitcoin formed this significant bull-trap yesterday after moving above the level and pulling back to previous zones with an emerging impulse it is forming an interesting formation now that will be the determining source within the upcoming times, This is a quick short-term update on Bitcoin.
The price is close to the 4H MA50 and so far it has held three times on respective Higher Lows attempts. This is causing BTC to consolidate within a Triangle. Triangle's are common within the dominant medium-term pattern, which since late October is a Bullish Megaphone and I have analyzed this extensively numerous In this scenario, Bitcoin may have topped for the year. What do yall think? Let me know how likely it is for Bitcoin to hit this kind of price action Happy Holidays!!!
Hello everyone In my previous analysis even though I am bearish in bigger picture.. However in 1 hour time frame we could have a breakout that could lead to a new high Price stuck inside a triangle.. Price broken triangle but need to close above green line and same time Green line need to hold as support..
However XRP should stop dumping hard now, the news made it through the whole world, everybody who had to panic panicked already. Technically we are seeing a diamond on BTC which is a bearish Yesterday BTC aims towards local support orange line. Now about what I expecte. But, My personal opinion is that it was a correction before a big price increase.
Hello dear friends, as you can see, my expectations for the breakdown of the level did not come true. This position is open, as there were opportunities to close it with a plus, but I did not. The symmetric triangle was broken upward. We have a double bottom, so it's too early to talk about a fall.
Although all big TFs say otherwise. I have another Which one do you think will happen? This post is just a personal idea and not a buying or selling advice. During the BTC price instability we received the long signal from our Automatic Hammer Strategy, but, please be careful because the risk of this trade is high.
The technical analysis confirmed the strategy assumption. We can see the price is above the CPR and S1 levels.