Bitcoin and an important pattern
Publishing herewith my idea about bitcoin using monthly time frame
trained myself to be unbiased ,so, never gives any direction, follow the price within the constraint of pattern range
price is at an important monthly level
purple shade is showing a zone in which price consolidated for almost 8 months before the start of a bull run
red zone is a resistance zone
3 possibilities
1. range will act as a resistance
2. price break it
3. price consolidate here
trained myself to be unbiased ,so, never gives any direction, follow the price within the constraint of pattern range
price is at an important monthly level
purple shade is showing a zone in which price consolidated for almost 8 months before the start of a bull run
red zone is a resistance zone
3 possibilities
1. range will act as a resistance
2. price break it
3. price consolidate here
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current week range posted before the start of the week
perfectly followed ?
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posted on April 7
30237?
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possible day range
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this one also needs some consideration
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monthly opening above the range could acts as support
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green and yellow valid for today only
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EOD?
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new week
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same position
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never give any direction, just give the range on the basis of patterns, it always helps me in day trading to be unbiased
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also keep in mind weekly range
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its zoom in with re partition keep original one for the day in mind, we already know the behavior of the bitcoin especially after prolonged consolidation
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12 M and a fight
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next month and 1st week normal range within the constraint of 12M and 3M price line, extended range will be provided if necessary
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closing monthly,weekly and daily analysis,
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might not be able to provide further 4 hr's update for next 8 hrs
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in above graphic there is an inside candle bar, once new 4 hr candles opened below it , there is not looking back
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still working, good resistance level purple and red lines
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3M chart is still active
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