Bitcoin has been interesting to watch, it has been rejected from the $12,000 price twice, and the first time it sent the price spiraling almost $3000 in one candle. This time, it hit resistance and only went down a couple hundred. You may notice the pattern forming here, which is normally a bullish pattern. As Bitcoin advances towards an area of value ($12,000), it creates a pattern of lower lows. In doing so, it is telling us that it is going to break out soon, consolidating onto that $12,000 mark.
While not garunteed to have a breakout past 12k, there is a pretty strong chance, as this triangle pattern is seen as an area of resistance starts breaking down, and the rejections become less powerful.
Watch for breakout within next couple of days. We do not trade on this until we have confirmation of breakout, with high volume, and the candle should close above.
While not garunteed to have a breakout past 12k, there is a pretty strong chance, as this triangle pattern is seen as an area of resistance starts breaking down, and the rejections become less powerful.
Watch for breakout within next couple of days. We do not trade on this until we have confirmation of breakout, with high volume, and the candle should close above.
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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.