BESTY

BESTY

Technical analysis

BESTY

Since the Jan 6th swing high, bitcoin price action has been contained within a downward parallel channel . This is the overriding structure and everything detailed below is just the story going on within it. Price was consolidating, forming a large symmetrical triangle structure (highest broken white line converging with upper boundary of parallel downward...

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Intradays forming rising wedge pattern with a break of pattern and multiple 1hr pivot rejections following the 4hr close rejecting the pivot. Targeting the height of the wedge pattern to the downside. Stop-loss above the pivot, short-term trend line and 0.618 fib level

BESTY

Intradays forming rising wedge pattern as for most euro pairs due to the large upside gap over the weekend. A break to the downside and quick retest of pattern. Targeting 1.081 which is a semi-decent support level (just shy of the height of the wedge formation). Stop-loss places above the 1hr 50ema, bottom of rising wedge, daily pivot and 0.618 fib levels

BESTY

Intradays forming rising wedge pattern like most euro pairs following the massive upside gap over the weekend. A break to the downside and quick retest of pattern. targeting 1.081 which has shown to be a decent support level (just shy of the height of the wedge pattern). Stop-loss above 1hr 50ema, bottom trendline of rising wedge, pivot and 0.682 fib level