NeutronMan

NeutronMan

I'm watching this potential Symmetrical Triangle Scenario on the 4 Hour Chart. Right now the price is holding support above the yellow trend line so this could be forming a bump and run reversal bottom. If this is true then we could see a pump to around 29.1k which is the 78.6% retracement and that's also where the May Monthly Pivot Points are.

NeutronMan

If Bitcoin sees a capitulation I think the price could find strong support around 9.8k.

NeutronMan

The Weekly RSI Trendline is indicating that the local top is potentially in.

NeutronMan

If Bitcoin continues going sideways for another month, then we could see something like this play out.

NeutronMan

Bitcoin saw a breakdown of this Diamond Pattern on the 1 Day Chart. We could potentially see a retest of the Diamond over the next few days.

NeutronMan

Bitcoin just lost the middle support of this massive Ascending Channel on the 2 Day Chart. The next major level of support is around the 24.6k level.

NeutronMan

The Bitcoin Dominance looks like it may go up. If this happens this means that Bitcoin may take up more market share in the crypto market. I don't know if there's a correlation to price action but this is something I'm keeping in the back of my mind.

NeutronMan

Bitcoin has been trading within a Diamond pattern for the past eternity. We should know within the next week which way the price wants to go.

NeutronMan

It looks like the RSI could be coming down to retest the upward sloping trendline on the 1 Day Chart. Historically, when the RSI breaks the upward sloping trendline we see a fast move down.

NeutronMan

I try not to look at small time frames but I do think it's interesting seeing these patterns play out.

NeutronMan

In case if the price starts falling, I've laid out some important price levels to look out for.

NeutronMan

Currently the S&P500 is at macro resistance. If the price doesn't break the resistance then I think BTC will probably tank as well.

NeutronMan

If Bitcoin can close a 2 week candle above this trendline then I feel like it could continue climbing higher.

NeutronMan

Bitcoin is getting held up by the 50 EMA on the 2 Week Chart. If things go South this month and Bitcoin loses the 50 EMA then I believe 19k should act as a strong level of support. 19k was the 2017 peak and it's the lower bound of this macro ascending channel.

NeutronMan

Bitcoin appears to be forming this massive Diamond pattern on the 1 Day Chart. The Bullish Target is around 34.2k and the Bearish Target is around 23.6k.

NeutronMan

Bitcoin appears to be forming a Symmetrical Triangle on the 12 Hour Chart. If this is true, then technically the price has until next Friday 5/12 to make a move.

NeutronMan

Bitcoin is currently consolidating / facing resistance at the top of this Macro Descending Channel. There is a slight golden cross of the 20 + 200 Weekly EMA but I'm not sure if that means much at this time.

NeutronMan

These are some patterns that played out on the 3 Hour Chart.