btc 1W trading patterns
On the weekly chart (logarithmic scale), I have drawn, in my opinion, the most significant trading patterns that BTC has formed so far. Although it seems complicated if you concentrate a little you will see that it is not and I hope it will help you.
On the map, it can be seen that since the beginning of 2021, the price has been moving within the limits of the trend channel marked with green lines
The rising wedge that has been forming since mid-2022 is marked with blue lines.
We have a large triangle marked by a dashed green and red line.
There is another large triangle marked with a dark green dashed and solid line. And one big megaphone marked with a yellow and dark green line.
With a green marker, I marked the zone of BTC's attempt to break the green channel, invalidate the blue rissing wedge and break the big triangle of the dotted line.
If he succeeds in his attempt, then the chances of further price growth increase.
Otherwise, the probability that it will fall to the zone marked with a red marker increases significantly.
It can also be expected that each of these lines represents a resistance line in the future price movement.
Disclaimer: This is not financial, investment, trade or other advice. This is my personal opinion which can very easily be wrong.
You trade at your own risk.
On the map, it can be seen that since the beginning of 2021, the price has been moving within the limits of the trend channel marked with green lines
The rising wedge that has been forming since mid-2022 is marked with blue lines.
We have a large triangle marked by a dashed green and red line.
There is another large triangle marked with a dark green dashed and solid line. And one big megaphone marked with a yellow and dark green line.
With a green marker, I marked the zone of BTC's attempt to break the green channel, invalidate the blue rissing wedge and break the big triangle of the dotted line.
If he succeeds in his attempt, then the chances of further price growth increase.
Otherwise, the probability that it will fall to the zone marked with a red marker increases significantly.
It can also be expected that each of these lines represents a resistance line in the future price movement.
Disclaimer: This is not financial, investment, trade or other advice. This is my personal opinion which can very easily be wrong.
You trade at your own risk.
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.