Chart Pattern Analysis Of Bitcoin

12 Ağu 2023

The new born downtrend just established an ice line, it is the recent powerful resistance.
There are two candles tried to return back, but the fist one had failed, and the present
candle is the second one. If it can't return back in the ice line, there will be three candles
closed below the ice line. The original uptrend will lost control, the background will change.
That will be a good opportunity to short it.

If this week's candle closed upon 30000, it will verify the background is still in demand's control.
I will join and buy in. I think this situation is not likely happen. If the strength of demand is
strong enough, last week's candle will return back into the high price area box.

14 Ağu 2023

Not

K5 closed near 29288, which verified a fact that the supply is in control.
If we short it here (at about 29288-29600 area), stop loss set at 30125.