Hey guys,
to keep it clear and simple as always: Bitcoin is following a strong downtrend at the moment. As shown in red, BTC is creating a falling wedge pattern, which typically is a bullish pattern. The price target is the top of the falling wedge, means 69k – nice.
The near future will tell if Bitcoin is able to reverse from now on (0.5 Fib level) and breaks out of the pattern to the upside – or if BTC stays in that pattern until the 0.618 Fib retracement level (30k area) and then eventually breaks to the upside or downside.
The blue boxes are strong support/resistance zones.
The Fibonacci is based on the low of March 2020 and the latest top of November 2021.
The RSI is in oversold territory.
And yes, I like to paint a possible path for the near future (green paths)😉
Have a great weekend
Stay safe
to keep it clear and simple as always: Bitcoin is following a strong downtrend at the moment. As shown in red, BTC is creating a falling wedge pattern, which typically is a bullish pattern. The price target is the top of the falling wedge, means 69k – nice.
The near future will tell if Bitcoin is able to reverse from now on (0.5 Fib level) and breaks out of the pattern to the upside – or if BTC stays in that pattern until the 0.618 Fib retracement level (30k area) and then eventually breaks to the upside or downside.
The blue boxes are strong support/resistance zones.
The Fibonacci is based on the low of March 2020 and the latest top of November 2021.
The RSI is in oversold territory.
And yes, I like to paint a possible path for the near future (green paths)😉
Have a great weekend
Stay safe
Nota
Pretty much nailed it so far.
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.