With recent tweet from one of the world richest guy has changed tides for Bitcoin in short term. Huge 15% pump in 1h candle has break many patterns in chart, above is example of long term bull flag formation in BTC/USDt pair.
Entry Price: whatever pattern you are following buy price would be retest for mine 33k$ (if we can hold this level the take profit...
It seems current price action is forming ascending triangle with higher lows in all time frames up to 1d. The above is example in 4h, let's say if we break previous all time high that will be also break out for this pattern. One can open long position at previous all time high after pattern retest. And wait till fibbo level 1.618 from swing high-low from...
It seems bitcoin just breaking out of wedge pattern in 15min and 1h chart with sell volume confirmation. It will retest fibbo level 0..5 for while close below it will result price action to next support level which also target for this pattern.
Bitcoin seems to be forming ascending triangle breakout scenario in 1hour chart, has failed to close below 30k target for head and shoulder pattern. Is this finally a good sign for BTC/USD? Also spike in volume may be confirming it, wait for the retest.
So this is example of classic trading textbook pattern called Head and Shoulders where breaking the neck line results the down trend. This is just educational chart on the current possibility with 4h and 1h bitcoin/usd chart. Pattern is not complete yet, breaking 30000$ is hard since it is strong psychological support level. And at 30k$ massive rejection is seen as well.
Hello all this is my first idea to Trading View, I can be wrong about this not a financial advice.
It seems BTC/USD forming Elliot wave pattern if we reach to point 4 in the drawing and next target will be in fibbo extension level 0.618 to 3 to 4. And point 5 will be at 46000$ target. Also note that 46000$ is 2.618 fibbo level from 2017 ATH to bear market low.
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