I saw this when I was playing through BTC charts and i think it worth sharing with you guys.
Looking at wave oscillator indicator price pattern seems to be in wide ascending triangle formation with price hitting the bottom trendline at exactly 78.6% Fibonacci retracement of the previous bullish move. Whereas, the last Mega Bullish move occur after price bounced off this same bottom trendline at exactly 78.6% fib level.
if history repeat itself this may be a good sign for potential price reversal to the upside.
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Please share your thougths about it and support my post with your LIKES if you think it's useful.
Thanks
Looking at wave oscillator indicator price pattern seems to be in wide ascending triangle formation with price hitting the bottom trendline at exactly 78.6% Fibonacci retracement of the previous bullish move. Whereas, the last Mega Bullish move occur after price bounced off this same bottom trendline at exactly 78.6% fib level.
if history repeat itself this may be a good sign for potential price reversal to the upside.
Join our discussion room for more about our trading ideas.
Please share your thougths about it and support my post with your LIKES if you think it's useful.
Thanks
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BTC All time triangle formation patterns and their breakoutTrade active
Another potential form of reversal spotted. Price started forming High lows.Trade active
We could also have accumulation on going as price been trading in a rectangular box that is from 3days chart analysisTrade active
One of my previous post that talk about trendline breakout. Still seems to be very valid.
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More details about the breakoutTrade active
Price may go down as medium term charts look bearish may be for a re-test on the major support again.Trade active
Looking at 4hours timeframe it show a clearer picture of a symmetrical triangle forming, which has its base around 6200$ support zone.Here is my trading plan towards this pattern. Looking to Buy around 6200-6260 area with tight stop loss below the support.
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This is one of my previous post, its channel that showcase all BTC typical reactions. Do have a look.
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This monthly chart shows price is testing strong support as well.
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Another one of my previous post showing possible wave patterns.
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BTC is struggling to make major moves on a short term basis, I expect a drop to at least 61.8% fib level talking on short term basis.Trade active
ETHUSD shown some serious sign of reversal also which complement BTC Bullish view.
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Bitcoin Corrective pattern
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Short term triangle breakout occurred and this look to be forming inverse head and shoulder patternTrade active
I shared another view on possible BTC breakout outlook.#BTCUSD
Do share your thougths about it and support my post with your LIKES
Thanks
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Related publications
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.