This is a continuation from the BTCUSD pattern discussed on January 26th, and February 21st, 2022.
Recently, the price of bitcoin tested the bottom support levels provided by the intersection (yellow circle at ~$34.4k) of:
- the upper bound of a previously-formed descending broadening wedge (descending green lines)
- the support of higher lows (ascending green lines).
The bounce from these supports has resulted in a double-bottom formation (neckline depicted by orange lines).
This double-bottom becomes activated if a breakout candle closes above the neckline followed by confirmation of the neckline as support.
If the double-bottom neckline gets activated, the target price is ~
59K (red circle).
This projected targeted price coincides with a 0.786 Fibonacci level.
Recently, the price of bitcoin tested the bottom support levels provided by the intersection (yellow circle at ~$34.4k) of:
- the upper bound of a previously-formed descending broadening wedge (descending green lines)
- the support of higher lows (ascending green lines).
The bounce from these supports has resulted in a double-bottom formation (neckline depicted by orange lines).
This double-bottom becomes activated if a breakout candle closes above the neckline followed by confirmation of the neckline as support.
If the double-bottom neckline gets activated, the target price is ~
59K (red circle).This projected targeted price coincides with a 0.786 Fibonacci level.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.