Potential bullish case for Bitcoin based on 2 key factors:
1) Very similar price action to the last year, mainly referring to the Head and shoulder formation which preceded the run to ATHs. Yes a Head and Shoulders pattern does indicated a bearish reversal, so the important factor hear is that bitcoin rejects the pattern at/around the neckline once again;
2) Taking the fractal that followed the rejection of last years head and shoulder pattern, and using this a rough basis for future price action should the H&S pattern get rejected once more, we would go on to hit a 1.618 fib extension, and the price would also react at key retracement levels (pull back at 0.702, support at 0.5, ATH the fall back to find support at 0.786/0.702/0.618).
1) Very similar price action to the last year, mainly referring to the Head and shoulder formation which preceded the run to ATHs. Yes a Head and Shoulders pattern does indicated a bearish reversal, so the important factor hear is that bitcoin rejects the pattern at/around the neckline once again;
2) Taking the fractal that followed the rejection of last years head and shoulder pattern, and using this a rough basis for future price action should the H&S pattern get rejected once more, we would go on to hit a 1.618 fib extension, and the price would also react at key retracement levels (pull back at 0.702, support at 0.5, ATH the fall back to find support at 0.786/0.702/0.618).
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.