BitcoinTelah dikemas kini Bitcoin daily Inverted Head and Shoulder or Triple top
This analysis is made in a line chart so it can be more visible where is the potential neckline. Obviously, there is no bear pullback as I wrote in yesterday's analyses because bitcoin rises too much that we could call for Bear Pullback. Analysis from yesterday is not valid at all as the pattern failed.
We are forming 2 very strong patterns.
One is ultra bullish and is an Inverted Head and Shoulder with a break of the neckline, the pump would be strong and fast, with targets around 30k plus or where is the block area of resistance from the 2022 area. If bitcoin breaks the neckline, I would prefer to break whole this area of resistance it would trigger a buy signal like never before and likely stampede would start. Would be nice to see a break with the volume.
So if bitcoin doesn't consolidate on this level for several days and instead of it starts to drop on bigger volume we will have to turn bearish towards the bearish formation. But if we continue to consolidate at this level or form a small bull pullback, be ready for a massive breakout. I am pretty sure the break will not be instant or better say I assess the break will not occur just right now.
The bearish formation is a triple top and at the same time rising wedge which if triggered bitcoin will go to test lows in 2022 and very likely towards the block area of support from the last time. I would not enter in a short position until the rising blue trendline is broken with a volume.
Therefore, we need confirmation for direction and confirmation will be visible with huge volume, up or down. I would stay away from crypto at the moment. Well, bitcoin is in a situation where it is uber bearish or uber bullish chart pattern forming.
Be patient and wait for real confirmation.
Yesterday bitcoin proved it can go in the opposite direction of banks and stocks, therefore, both paths are possible and are on 50%.
We are forming 2 very strong patterns.
One is ultra bullish and is an Inverted Head and Shoulder with a break of the neckline, the pump would be strong and fast, with targets around 30k plus or where is the block area of resistance from the 2022 area. If bitcoin breaks the neckline, I would prefer to break whole this area of resistance it would trigger a buy signal like never before and likely stampede would start. Would be nice to see a break with the volume.
So if bitcoin doesn't consolidate on this level for several days and instead of it starts to drop on bigger volume we will have to turn bearish towards the bearish formation. But if we continue to consolidate at this level or form a small bull pullback, be ready for a massive breakout. I am pretty sure the break will not be instant or better say I assess the break will not occur just right now.
The bearish formation is a triple top and at the same time rising wedge which if triggered bitcoin will go to test lows in 2022 and very likely towards the block area of support from the last time. I would not enter in a short position until the rising blue trendline is broken with a volume.
Therefore, we need confirmation for direction and confirmation will be visible with huge volume, up or down. I would stay away from crypto at the moment. Well, bitcoin is in a situation where it is uber bearish or uber bullish chart pattern forming.
Be patient and wait for real confirmation.
Yesterday bitcoin proved it can go in the opposite direction of banks and stocks, therefore, both paths are possible and are on 50%.
Nota
Nice breakout of the neckline. Can bitcoin finish so strong? Would be a nice and strong continuation of the move.If not, and drop at the end of the day, especially if close below 23600 would be a disaster for bulls as it would form a shooting star reversal pattern.
I expect a huge fight today between bulls and bears.
Let a stronger won!
Nota
Not good for now, not good at all! A huge shooting star reversal candle is forming. Bitcoin needs buyers to step in ASAP!
Nota
Bitcoin needs to consolidate on this level. Need to take air before moving. Consolidation must be on lower volume. Bitcoin could make a small bull pullback but the red candle can not be on big volume otherwise drop will be imminent. On the other side, if we see a drop with a big volume than there will be a huge chance bearish pattern will start to play.
Consistency is the key of success....
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Consistency is the key of success....
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.