BITCOIN SQUEEZEE ???
Bitcoin in a "squeeze" position currently despite huge volatility in the past few days and overall consolidation structure (Broader Rectangle R1) on the D1 TF.
What will become of it after a breakout?
Notable patterns with likely targets/PO to the upside in a "Triple" Breakout scenario..
1. Symmetrical triangle - 115,000
2. Rectangle (R2) - 112,800
3. Ascending Channel
4. Bullish Pennant - 125,500
5. Bullish Rectangle (R1) - 125,500
**Both Pennant and Rectangle Price Objectives (PO) coincide with the PO for Cup and Handle Pattern on the W1 pattern.
Breaking down the structure (Symmetrical triangle and Rectangle R2) in a continued consolidation on the D1 TF we could see Price Action revisit levels
1. Rectangle (R2) - 99,500
2. Symmetrical T - 92,500
3. Rectangle (R1) - 90,000
*Summary
Bulls are favored.
What will become of it after a breakout?
Notable patterns with likely targets/PO to the upside in a "Triple" Breakout scenario..
1. Symmetrical triangle - 115,000
2. Rectangle (R2) - 112,800
3. Ascending Channel
4. Bullish Pennant - 125,500
5. Bullish Rectangle (R1) - 125,500
**Both Pennant and Rectangle Price Objectives (PO) coincide with the PO for Cup and Handle Pattern on the W1 pattern.
Breaking down the structure (Symmetrical triangle and Rectangle R2) in a continued consolidation on the D1 TF we could see Price Action revisit levels
1. Rectangle (R2) - 99,500
2. Symmetrical T - 92,500
3. Rectangle (R1) - 90,000
*Summary
Bulls are favored.
Nota
BITCOIN WEEKLY CHART
Nota
D1 CHART (2)
Nota
ANALYSIS SUMMARY
1. BREAK AND CLOSE ABOVE RESISTANCE 109K, BULLISH TREND CONTINUES
2. FAILURE TO BREAK AND CLOSE ABOVE RESISTANCE, CONSOLIDATION STILL INTACT
''''' IGNORE PREVIOUS SUMMARY. MOREOVER NOT FINANCIAL ADVICE.
Nota
H4 CHART revealing clearer "squeeze" structure and volatility shift.
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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.