Bitcoin Pattern Analysis
Bitcoin has created a bullflag pattern and as of writing, it is in a consolidation phase and it drew a symmetrical triangle and this has a higher tendency to breakout anytime within the 24 hours. When it does, the target for it to reach would be around the 27K-28K mark but it has to break the megaphone around the 24.3K.
If it consolidate even longer, as of writing, it is creating a descending triangle and this pattern has a higher tendency to break down and if it does, the target would be around the 21K mark.
If trading the Breakout, it will pull a long 15-18%, if it breaks the megaphone trend at the 24.3K mark.
If trading the breakdown, it will pull a long -5-6%.
Trade with caution, be prepare for the pullback if trading the breakout.
Note: Not a financial adviser, just personal thoughts
If it consolidate even longer, as of writing, it is creating a descending triangle and this pattern has a higher tendency to break down and if it does, the target would be around the 21K mark.
If trading the Breakout, it will pull a long 15-18%, if it breaks the megaphone trend at the 24.3K mark.
If trading the breakdown, it will pull a long -5-6%.
Trade with caution, be prepare for the pullback if trading the breakout.
Note: Not a financial adviser, just personal thoughts
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.