Chart Pattern Analysis Of Bitcoin
Updated
https://www.tradingview.com/x/h8rJZQ1N/
K3 is an overbuying candle.
It verified a bull market.
If I hadn’t bought it earlier,
I will try to buy it if the following candles successfully fall back to test the middle line of the channel.
Long-72588/Stop-70K/Target-100K
K3 is an overbuying candle.
It verified a bull market.
If I hadn’t bought it earlier,
I will try to buy it if the following candles successfully fall back to test the middle line of the channel.
Long-72588/Stop-70K/Target-100K
Trade active
On the 4H Chart,
K1 and K2 is a bearish engulfing pattern.
It verified a potential resistance.
it seems that a short-term consolidation had not ended yet.
Perhaps it will expand at K5.
If K5 close below K2,
It is likely that the market will fall to test 73K area.
It will be a good place to buy it there.
On the other hand,
It is also possible that K5 or the following candles close upon K2.
If that is the fact,
A potential bull flag will be terminated,
And another bull run will start here.
Long-76850/Stop-75400/Target-100K
Long-73588/Stop-72588/Target-100K
Note
On the 4H Chart,
K2 and k3 verified a potential hammer candle of K1.
If the following candles close upon the resistance.
Another bull run will strart here or the consolidation will expand to test 94K area.
On the other hand,
It is also possible that K5 or the following candles close below K2.
If that is the fact,
A potential bull triangle will be terminated,
And the consolidation will expand to test the lower price area around the support.
Long-90800/Stop-90100/Target-106K
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