BitcoinShort
Btc bearish harmonic pattern log scale
Possible formation of a bear market bottom trendline upon confirmation with a third point of contact which would occur at approximately 5.5k-6k. The previous points of contact with this trendline was at 3k during 2018 and 3.8k during 2020. However 9.5k is also another important level that could get support and we can start a new bull run from there. We will have to analyze the volume, rsi, and the pattern formation once the price gets close to 10k to determine wether that will be the bottom or not. Not financial advice, just for studying purposes.
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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.