Bitcoin on 2h chart
Updated
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Today, let's take a look at the Bitcoin chart on the 2-hour timeframe. There is a fascinating pattern emerging that I'd like to discuss.🧐
https://www.tradingview.com/x/IcgVmPLm/
I've drawn long-term support and resistance lines that have been forming since February and March of this year. Today, Bitcoin is attempting to break through a descending trendline. For many, this might seem like a bullish signal, but let's not jump to conclusions just yet. On the 2-hour chart, we can see that the price continues to form a rising wedge, which is typically considered a bearish signal, often resulting in a downward breakout.
At this moment, I see the possibility of the price rising into the blue zone, followed by a sharp decline. To provide a clearer picture, I'll also include a more long-term chart so you can better understand my analysis.
https://www.tradingview.com/chart/BTCUSD/DseLKVxG-Bitcoin-s-Symmetrical-Triangle/
What are Your thoughts? How are You feeling about the market? Where do You think the price will go next? Share Your insights in the comments, I'm looking forward to hearing from You.
Thanks for Your attention💋
Always Yours, Kateryna💙💛
Today, let's take a look at the Bitcoin chart on the 2-hour timeframe. There is a fascinating pattern emerging that I'd like to discuss.🧐
https://www.tradingview.com/x/IcgVmPLm/
I've drawn long-term support and resistance lines that have been forming since February and March of this year. Today, Bitcoin is attempting to break through a descending trendline. For many, this might seem like a bullish signal, but let's not jump to conclusions just yet. On the 2-hour chart, we can see that the price continues to form a rising wedge, which is typically considered a bearish signal, often resulting in a downward breakout.
At this moment, I see the possibility of the price rising into the blue zone, followed by a sharp decline. To provide a clearer picture, I'll also include a more long-term chart so you can better understand my analysis.
https://www.tradingview.com/chart/BTCUSD/DseLKVxG-Bitcoin-s-Symmetrical-Triangle/
What are Your thoughts? How are You feeling about the market? Where do You think the price will go next? Share Your insights in the comments, I'm looking forward to hearing from You.
Thanks for Your attention💋
Always Yours, Kateryna💙💛
Note
we are in blue zone💙Note
Looks like the price going to re-test down trend line Note
we are lower 67k
Note
we are lower 63kNote
We are currently at the retest of the lower dashed resistance line. What happens next? We’ll see soon.
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