Chart Pattern Analysis Of Bitcoin

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https://www.tradingview.com/x/J9kOHuqJ/
K5 close below K2,
It verified the resistance or the bear gap at K2.
It seems that the following candles will fall to test 0.382-0.5fib area.
I will try to buy it there.
I don’t think the three years bull market will be terminated here,
I am expecting another bull run to test or break up the resistance again.

On the other hand,
If K6 or the following candles finally close below 0.5fib line or the uptrend line,
A potential double top bear market will finally come up.

Long-96888/Stop-95888/Target-115K

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Not

It seems that K2 is a weak fake down,
The market couldn’t accelerate immediately.
If K3 or the following candles successfully resets the downtrend line,
It will be a good place to short it here.
And then, a motive wave will push the market to the potential support.
I will try to buy it there.

On the other hand,
If K3 or the following candles break up the downtrend line or K1.
It is likely that another bull run will start here to test 112K area.

Short-103888/Stop-104888/Target-96.5K
Short-104248/Stop-105248/Target-96.5K

20 saat önce

Not

From K1 to K3,
It is a three soldiers advancing pattern,
It break down the neckline of a potential double top pattern.
But unfortunately, K3 still failed to close below the line.
It is a weak break down or a fake down.
I don’t think it is a good idea to short it here with heavy positions.
At the same time,
K3 is a bullish spring candle,
It is an earlier signal to verify a potential support around 0.382fib area.
It seems that the market will consolidate there or even be reversed there.

On the other hand,
If K4 break up K3 immediately,
It is still possible that another bull run will start here to test 112K area.