Our macro vision for Bitcoin is that the price is inside a Daily corrective structure with a bullish output once the structure is broken.
In the meantime, we will analyze the possible roads the price could take inside it.
Main items we can see on the Daily chart:
a)Our most significant structure is a falling wedge, that from a theoretical perspective this type of patterns are continuation ones, meaning that a new motive way should come after the breakout
b)The price currently is on the lower side of the structure looking for support
c)The descending channel of the last bearish movement has been broken, and a possible bullish wave could come, with a target on the upper trendline of the falling wedge
d)We have on the chart two possible scenarios, one long and one short. We are no taking any trade yet this is only with analysis purposes
e)Our Main setup will be developed once we have a break out of the Falling Wedge + corrective structure.
Daily View:
In the meantime, we will analyze the possible roads the price could take inside it.
Main items we can see on the Daily chart:
a)Our most significant structure is a falling wedge, that from a theoretical perspective this type of patterns are continuation ones, meaning that a new motive way should come after the breakout
b)The price currently is on the lower side of the structure looking for support
c)The descending channel of the last bearish movement has been broken, and a possible bullish wave could come, with a target on the upper trendline of the falling wedge
d)We have on the chart two possible scenarios, one long and one short. We are no taking any trade yet this is only with analysis purposes
e)Our Main setup will be developed once we have a break out of the Falling Wedge + corrective structure.
Daily View:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.