⋱ℌello dear friends, let's have a look at Bitcoin⋰
Structure and patterns:
≫ Clearly we in big symmetrical triangle structure, moving inside it closely to the apex.
≫ Inside this pattern, we can found another structure called Descending Wedge (Falling Wedge), it is bullish in two of three cases so it's 67% probability to be bullish, and 33% probability to be bearish.
In this case we have a stop loss under previous swing low, at 3422$
Take profit situated at 3876$. With risk/reward ratio 2.33.
≫ Price currently broke Descending Wedge resistance.
∿ Indicators:
≫ Stochastic showing bullish divergence on 4h timeframe chart.
≫ Relative Strength Index showing bullish divergence on 4h timeframe chart.
Structure and patterns:
≫ Clearly we in big symmetrical triangle structure, moving inside it closely to the apex.
≫ Inside this pattern, we can found another structure called Descending Wedge (Falling Wedge), it is bullish in two of three cases so it's 67% probability to be bullish, and 33% probability to be bearish.
In this case we have a stop loss under previous swing low, at 3422$
Take profit situated at 3876$. With risk/reward ratio 2.33.
≫ Price currently broke Descending Wedge resistance.
∿ Indicators:
≫ Stochastic showing bullish divergence on 4h timeframe chart.
≫ Relative Strength Index showing bullish divergence on 4h timeframe chart.
Nota
this chart doesn't have volume.So i decided to check it from BitMEX and look at VOLUME:
Nota
looks like breakout on 1h timeframe
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.