Chart Pattern Analysis Of Bitcoin.

1 mag

https://www.tradingview.com/x/ToxfRxQN/
The recent several candles is a consolidation along the resistance.
K3 nearly close below the uptrend line.
So, the possibility of the following candles fall to test the support increased.
If K4 or the following candles close below K3,
It will verify the expectations,
And I will try to buy it at 0.382-0.5fib area.

On the other hand,
If K4 or the following candles close upon K1,
Another bull run will start here to test 97-99K area.

Long-88.8K/Target-102K/Stop-86.8K
Long-95.7K/Target-97K/Stop-94.7K

5 giorni fa

Nota

K3 verified a fact that K0 was possibly a fake up candle.
But,K4 failed to close below K0 with high supply pressure to verify the bearish momentum.
So, it is not likely that a bear run will start here,
the possibility of the following candles climb up to test the high price area of K2 increased.
If that is a fact, It will be a good opportunity to get out of the market at 97K area.

On the other hand,
If K5 close below K4,
or, the following candles couldn’t return back upon the resistance immediately,
The following candles will fall back to test 90K area.
I will try to buy it there.