Here is my quick thoughts on bitcoin.
(note, on the 15minute time frame, so just short term stuff that could take us into a reversal or into a ranging bottom here)
We formed nicely a descending falling wedge pattern, which has broken to the downside. I can see the price action entering back into the wedge pattern meaning that this was a fakeout or deviation, would be a strong buy signal.
Can then see price action making its way back to the overhead resistance where we will see a breakout. Dependent on the momentum as to wether we see a re-test or not. I think that the market could be so lively that we don't see a re-test.
Pie in the sky ideas, but its nice to project some Ideas on what might be.
(note, on the 15minute time frame, so just short term stuff that could take us into a reversal or into a ranging bottom here)
We formed nicely a descending falling wedge pattern, which has broken to the downside. I can see the price action entering back into the wedge pattern meaning that this was a fakeout or deviation, would be a strong buy signal.
Can then see price action making its way back to the overhead resistance where we will see a breakout. Dependent on the momentum as to wether we see a re-test or not. I think that the market could be so lively that we don't see a re-test.
Pie in the sky ideas, but its nice to project some Ideas on what might be.
Note
so far so good....
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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.