Bitcoin PATTERN - BTC Roadmap to NEW ATH

10 giu

BTCUSDT

👉 Trendline Analysis: BTC has been consolidating directly underneath the resistance zone - BULLISH
👉 Candlestick Analysis: Three white soldiers in the 2W timeframe - BULLISH
👉 Technical Indicator Analysis: Price has cooled down after being "Extremely Overbought", moving averages holds - BULLISH

Technical Indicator Monthly Timeframe:


Technical Indicator Weekly Timeframe:


There is really only one concerning matter, and that is from a potential near term scenario:
❗ Pattern Analysis: Potential for M-Pattern to form, medium risk: BEARISH

The candle closes of the next two weeks are crucial in determining how this pattern will play out.

For further reading, here's the initial Elliot Wave analysis on BTC:

___________________________