BTC 4H TF ascending channel + falling wedge
In the previous article, we mentioned the BTCUSD daily TF hidden inverse head and shoulder pattern.
Since the right shoulder is not constructed, the pattern is invalid.
The current trend, we can found that the BTC have left the EMA ribbon 4H consolidation zone.
And earlier fell to the key support Fibonacci 0.382 8117.46 support, forming a falling wedge pattern, the overall trend is still in the 4H TF of the ascending channel, pay close attention to meet point of the falling wedge and the ascending channel 8049, the overall pattern is still bullish because of ascending channel and falling wedge pattern. There's still may have a dip to the lower support zone in Fibonacci 0.236 7954.08 before trying to break above the falling wedge.
It is recommended that the investors can pay close attention to the It is recommended that the investors can pay close attention to the 8023-8065 zone which is an area where previous consolidation volume located, and the current trend line support at the bottom of the ascending channel. From the current trend has the opportunity to get support at the bottom of the ascending channel, pay close attention to whether there is a reversal pattern.
Another suggestion for investors is that after breaking the falling wedge pattern, wait for pull back to the trend line and open long position near the support zone.
Recently, the crypto market is too volatile, it is recommended that investors operate with low leverage.
The current trend is also to wash back and forth between 7800-8800.
Compared with the previous bear market situation, the range is between 3000-4000, consolidating for a long time, and pull up the price.
Similar situation with the previous bear market.
Since the right shoulder is not constructed, the pattern is invalid.
The current trend, we can found that the BTC have left the EMA ribbon 4H consolidation zone.
And earlier fell to the key support Fibonacci 0.382 8117.46 support, forming a falling wedge pattern, the overall trend is still in the 4H TF of the ascending channel, pay close attention to meet point of the falling wedge and the ascending channel 8049, the overall pattern is still bullish because of ascending channel and falling wedge pattern. There's still may have a dip to the lower support zone in Fibonacci 0.236 7954.08 before trying to break above the falling wedge.
It is recommended that the investors can pay close attention to the It is recommended that the investors can pay close attention to the 8023-8065 zone which is an area where previous consolidation volume located, and the current trend line support at the bottom of the ascending channel. From the current trend has the opportunity to get support at the bottom of the ascending channel, pay close attention to whether there is a reversal pattern.
Another suggestion for investors is that after breaking the falling wedge pattern, wait for pull back to the trend line and open long position near the support zone.
Recently, the crypto market is too volatile, it is recommended that investors operate with low leverage.
The current trend is also to wash back and forth between 7800-8800.
Compared with the previous bear market situation, the range is between 3000-4000, consolidating for a long time, and pull up the price.
Similar situation with the previous bear market.
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