BitcoinUpdated #Bitcoin : BARR Bottom Playing Out!
Right now i see a BARR Bottom - Commonly found at 50 degree angle.
The target of which is 10200.
We need to hold this 1HR OB here (the support of the current consolidation) first of all, a close under it and we are likely to dump off as its starting to consolidate nicely above it.
The other resistances to watch for are outlined on the chart, first need to clear the diagnols, 0.382 then that should take us to the next OB at 9960 if that occurs, if we find support there then 10200 is the next target.
See comments for the BARR Bottom by itself.
The target of which is 10200.
We need to hold this 1HR OB here (the support of the current consolidation) first of all, a close under it and we are likely to dump off as its starting to consolidate nicely above it.
The other resistances to watch for are outlined on the chart, first need to clear the diagnols, 0.382 then that should take us to the next OB at 9960 if that occurs, if we find support there then 10200 is the next target.
See comments for the BARR Bottom by itself.
Note
BARR BottomNote
New idea here covering BTC (Click image below for a interactive chart)
Note
BTC- Put in a descending scallop and ended up SFPing off the pattern failure level, Still looking at the breakout level i listed on that chart, 9725.We have created a small trading range between the breakout level and pattern failure level (or in this current chart, the weekly orderblock at 9585) and once we get a close above/below either we are alot more likley to head in that direction.
9585 Is a a strong support i wouldnt be super bearish until we are under that level again .
We also have the possibility of a IHS here but so far the breakout was rejected (XBT Chart)
Looking at at different chart with volume
1. shit volume
2. no breakout
essential we hold the 0.618 on the chart for even the slightest possibility of this playing out.. we need to break the neckline with strong volume or its likely the pattern will just fuzz out.
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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.