on the 4 hour chart, I am seeing an ascending wedge which appears to be accompanied by decreasing volume.
Also, the candlesticks have not surpassed the 50% Fibonacci zone, which leads me to believe that this is not a false pattern.
If the pattern is correct, then another dip can be expected, breaking the ascending wedge pattern. My guess is that BTC would find support around $29,000. I would love to hear your opinions.
BTCUSD
Also, the candlesticks have not surpassed the 50% Fibonacci zone, which leads me to believe that this is not a false pattern.
If the pattern is correct, then another dip can be expected, breaking the ascending wedge pattern. My guess is that BTC would find support around $29,000. I would love to hear your opinions.
BTCUSDNota
Upon further review, I also see that this may be considered an ascending triangle pattern depending on how the upper line is drawn. Volume still has not been increasing from what I see, so it looks unlikely that there will be a strong breakout in the upward direction.
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.
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.