Bitcoin BTC: 1M Chart Review
Today you can review the technical analysis idea on a 1M linear scale chart for Bitcoin (BTCUSD).
The Bitcoin price has broken out of the Descending Wedge Pattern. Using Fibonacci Retracement tool, there is a possibility for the price to get close to 25K. The one major concern is the RSI is below a major Support and Resistance line so I am not confident that the price will reach 25K. If price moves below 18.2K, there is a strong chance the price will head much lower (
14K-10K range).
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
The Bitcoin price has broken out of the Descending Wedge Pattern. Using Fibonacci Retracement tool, there is a possibility for the price to get close to 25K. The one major concern is the RSI is below a major Support and Resistance line so I am not confident that the price will reach 25K. If price moves below 18.2K, there is a strong chance the price will head much lower (
14K-10K range).If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
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