A Price Forecast for Bitcoin / U.S. Dollar
Bitcoin / U.S. Dollar, with the symbol BTCUSD, formed a double bottom class II pattern on the 4h chart as of January 13, 2021. If Bitcoin continues to trade in the two parallel channel lines then, I continue to believe this will be the path to how Bitcoins will retest the previous high.
This price forecast is made based on the following concepts:
Channel Trading
Moving Average
Mean Reversion
Supply & Demand
Support & Resistance
Fib Lines
Trend Analysis
Wave Principles
However, if the price fails to continue in that two parallel channel lines then we are looking at Bitcoin / U.S. Dollar in the danger zone I marked, and possibly facing ahead more selling pressure. If that happens, this price prediction will be invalid and a new price prediction will be needed later.
Thank you for reading!
Greenfield
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Disclosure: Chart interpreted and article prepared by Greenfield. A market idea by Greenfield Analysis LLC for educational material only.
Bitcoin / U.S. Dollar, with the symbol BTCUSD, formed a double bottom class II pattern on the 4h chart as of January 13, 2021. If Bitcoin continues to trade in the two parallel channel lines then, I continue to believe this will be the path to how Bitcoins will retest the previous high.
This price forecast is made based on the following concepts:
Channel Trading
Moving Average
Mean Reversion
Supply & Demand
Support & Resistance
Fib Lines
Trend Analysis
Wave Principles
However, if the price fails to continue in that two parallel channel lines then we are looking at Bitcoin / U.S. Dollar in the danger zone I marked, and possibly facing ahead more selling pressure. If that happens, this price prediction will be invalid and a new price prediction will be needed later.
Thank you for reading!
Greenfield
Remember to click "Like" and "Follow!"
Disclosure: Chart interpreted and article prepared by Greenfield. A market idea by Greenfield Analysis LLC for educational material only.
Note
Target hit at around 39300Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.