On 1h chart, seems to forming a rising wedge, which is often the end of the 5th wave of elliot wave theory. Furthermore on RSI we have a divergence. I think, we need a short squeeze that step forward... otherwise we visit the bottom of chanel again...
You can dicover a descending triangle on 1h BTCUSD chart. before, the price move on the paralell chanel . This pattern a bearish sign, and the price will break down, if the support line can't hold next time.
What do you think?
Hello traders,
I think, we are in the massive bullrun correction, after finish the Elliott waves. The trend line broked ,and the next move, maybe backtest the previous trendline bottom around 48000 and after we will visit the 44000 zone.
Good luck
Descending triangle formed on 1h timeframe. The lower line is a support level,in wich the price cannot seem to break, in this case the daily EMA200 line wich is 42150USD I'm really hope, this support is too strong ,hold on and finally the price is bounce off!
GOOD luck!
