Technical Analysis
Hey Guys! Whats up now lets talk about bitcoin pretty bullish in this week. And forming a beautiful upward pointing triangle(Bearish Pattern). Elliot wave perspective it was under 3-3-5 Correction. It's a flat type of correction in which the two waves are ABC(Impulse Wave Blue), ABC(Correction Red) followed by ABCDE(Impulse Waves Blue). Now lets talk about indicators first of all my favorite MACD we have a beautiful divergence in MACD Hourly charts
Also we have bearish divergence in the RSI another popular indicator. What I'm saying is we will break bearish out of this triangle and will correction down to $5100-$5300 region. Thank you guys for looking into don't forget to leave a like. I'll keep updating the idea in the threads so don't forget to follow me. Thank You
Indicators
1. MACD - Bearish Divergence in hourly charts
2. RSI - Bearish Signal
Conclusion
Bitcoin Forming a upward pointing triangle which is a bearish pattern may broke downward to test $5100-$5300 region.
Thank You For Your Support
Previous Analysis
Hey Guys! Whats up now lets talk about bitcoin pretty bullish in this week. And forming a beautiful upward pointing triangle(Bearish Pattern). Elliot wave perspective it was under 3-3-5 Correction. It's a flat type of correction in which the two waves are ABC(Impulse Wave Blue), ABC(Correction Red) followed by ABCDE(Impulse Waves Blue). Now lets talk about indicators first of all my favorite MACD we have a beautiful divergence in MACD Hourly charts
Indicators
1. MACD - Bearish Divergence in hourly charts
2. RSI - Bearish Signal
Conclusion
Bitcoin Forming a upward pointing triangle which is a bearish pattern may broke downward to test $5100-$5300 region.
Thank You For Your Support
Previous Analysis
Trade active
So its started Trade active
Failed To Breach the resistance bears are not out of the game yet.Trade active
Trade active
Trade active
Looks like a rising wedge Trade active
6200 Here we comeTrade active
Expecting A bounce to $6500 before the further fall expecting 5-3-5 CorrectionTrade active
Target 1 reached stay tuned for update Note
Expecting a Nice bounce from here Lets see how it goes i hope u guys are outTrade active
Going just as plannedTrade active
Trade active
Just as expected bear flag complete expecting sideways moment before the further fall 
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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.
Related publications
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.