Chart Pattern Analysis Of Bitcoin

K1 and K2 is a bullish harami pattern,
But K3 keeps at low volume level,
It seems that the demand pressure sharply decreased here.
So, it is likely that the bullish pattern couldn’t reverse the short-term downtrend.
If K4 close below K2,
It will be a potential good place to short it there.

Sell-62188/Stop-63188/Target-57500
Sell-60430/Stop-61430/Target-53000

İşlem kapandı: durdurma seviyesi

Yorum:

From K1 to K3,
It is a bullish morning star pattern,
If the following candles successfully test the lower price of K3,
I will try to buy in.

On the other hand,
K3 failed to close upon K1,
The bullish momentum needs more signals to verify it.

I will not try to short it anymore,
It is really a big loss to do such things for many times.
If the following candles fall to test the support,
I will also try to find opportunities to buy in.

Yorum:

K2 is not a successful test,
K1 and K2 verified that the short-term downtrend had regained its strength.
The potential price target is 56K-54K,
I will try to find opportunities to buy it there.

If K3 close upon the downtrend line,
It will likely reverse the short-term downtrend.
I think the possibility is relatively low here.