After the recent big moves I thought it was worth reassessing what patterns BTC has formed on the shorter duration charts, to get an idea of the next big move.
240 minute chart:
You can see the ascending triangle (in yellow) produced a breakdown on April 11. However, in doing so there is a new uptrend channel visible (in blue), which is containing movement since April 3.
30 minute chart:
Price appears to be moving in a smaller ascending triangle (in purple). If this breaks down I would be watching for support at the lower blue line of the ascending channel, currently at about $4945. If it breaks to the upside, target would be $5190 based on the height of the triangle, with possible further to the top blue line.
240 minute chart:
You can see the ascending triangle (in yellow) produced a breakdown on April 11. However, in doing so there is a new uptrend channel visible (in blue), which is containing movement since April 3.
30 minute chart:
Price appears to be moving in a smaller ascending triangle (in purple). If this breaks down I would be watching for support at the lower blue line of the ascending channel, currently at about $4945. If it breaks to the upside, target would be $5190 based on the height of the triangle, with possible further to the top blue line.
Nota
Purple triangle broke down as I clicked publish. Looking for an entry if price bounces from $4945, initial stop-loss $4920 and target $4945.Nota
correction to above, target $5190.
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.