Chart Pattern Analysis Of Bitcoin

1 Ogo 2023

Last day's candle showed that it failed to breakup.
The price here is still in disordered state.
we'd better wait for more evidence to join in the market.

2 Ogo 2023

Nota

The price closed upon the ice line, it is a good news for buyers, it seems that the ice line is not strong enough. If today's candle stay upon ice line and even closed higher than 30100 , maybe a V-bottom will establish.

Last day's candle had a relatively high volume and created a new lower price, which means supply pressure is still high. It is most likely a temporary short position closing action.

I will still wait for more evidence to verify which side is in charge.

3 Ogo 2023

Nota

Nearest support is k1 at about 28700,Resistance is at about 29700.
Last two candles tried hard to closed upon ice line, but failed, which verified
a fact that supply pressure is still in charge.
If the price retest the resistance in the coming days, there will be a good opportunity to short it.
Last day's candle had an increased volume, but failed to closed below K1, which verified that the support is strong at present.If we buy here(28860-28660 area), stop loss should set at 28612.
And i will discard to buy here, and still wait for an opportunity to short it.

5 Ogo 2023

Nota

If we bought here, nearest price target is 29500.
I am still waiting for chances to short it,.

8 Ogo 2023

Nota

A series of hammer candles built a large scale potential tweezers bottom reverse pattern. If an expected price reaction candle could closed upon or near 29700 under a relatively lower volume in the coming days, the uptrend may resume.

Otherwise, the supply pressure or downtrend will most likely restore it's strength.