BTC Update
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BTC 15 min chart gives us again mixed signs and mixed price action patterns. At the moment we are in "Rising Wedge" continuation pattern (down). Above we have a very strong area where we'd need a strong bullish candle to push through. However there is a problem - we lack buyers. If some whales decide to push BTC price up, only then we could break through that level. A small bullish sign is Ascending Triangle (blue area) that we broke out of and now we are testing this triangle resistance line. Let's see what we could get from this pattern (15min chart patterns do not work so strongly as higher timeframe patterns) so if we want to be bullish we have to watch price area between $6640-$6680
The Bearish sign is following the trend on the continuation pattern "Rising Wedge" and the trend is down at the moment, so if we break downwards from the bottom blue line then we have to watch our support level @ $6450-$6500! If we break this then we have bearish confirmation and probably the next support would be $6200-$6300 before the big $6000
The Bearish sign is following the trend on the continuation pattern "Rising Wedge" and the trend is down at the moment, so if we break downwards from the bottom blue line then we have to watch our support level @ $6450-$6500! If we break this then we have bearish confirmation and probably the next support would be $6200-$6300 before the big $6000
Commento
As soon as we posted, BTC broke down from Rising Wedge and now we look closely level @6500 and let's see if we get a quick bounce up from there if not then this could be a bearish sign!Commento
On 5 min. chart little double bottom and exact bounce from $7500, maybe some momentum from buyers??! To be continued....Commento
Nonono... 15min candle lowest close and below $6500 Commento
That happens when You see the lowest candle close! Decent drop through the strong support area with a strong candle! As I said next support would be around 6,2-6,3k let's see...Commento
After quick try from buyers to push the price back up, BTC found resistance from red box area, we need definitely the same strong candle (as we came down) if we want to break through from this resistance because we have there also round number $7500! But first if we breakout from this triangle upwards then we could retest $7500 and from there let's see what the price do (price action)! If we break down then that you already know - first support 6,2-6,3k!To be continued!
Commento
At the moment had touched this red box 7 times and now is 8thLike I said we need a strong candle to break through from this area.
Meanwhile, candle close below bottom trendline could mean another drop - another leg down!
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