I'll lay out the 3 possibilities I see playing out
1) We continue to set higher lows and higher highs on the 4 hour time frame for the next few days to continue this bullish movement.
2) We break the 4 hour higher high / higher low pattern and set a HIGHER LOW above 6k . If we do this and than set a higher high which was put in last night at 9074 than this is very good for bulls and would confirm a change in trend.
NOTE : We need to set a higher low on the daily which means we will break the higher high/ higher low pattern on the 4 hour and 1 hour time frames. This could mean bitcoin goes into the 6k range ! As long as it doesn't break 6k than we are in a bullish bounce.
3) The 3rd scenario i see playing out is the H&S pattern that i drawn. We will bounce up in the next few hours, set a higher low below 9k and see bearish movement from there
We still didn't break the higher high and higher low pattern on the 4 hour so we're still in the 1st option that i laid out, if we break this pattern than I would like to see the 2nd option play out which I think is most likely to occur.
P.S. If something isn't clear please let me know in the comments , still learning everyday like you guys.
1) We continue to set higher lows and higher highs on the 4 hour time frame for the next few days to continue this bullish movement.
2) We break the 4 hour higher high / higher low pattern and set a HIGHER LOW above 6k . If we do this and than set a higher high which was put in last night at 9074 than this is very good for bulls and would confirm a change in trend.
NOTE : We need to set a higher low on the daily which means we will break the higher high/ higher low pattern on the 4 hour and 1 hour time frames. This could mean bitcoin goes into the 6k range ! As long as it doesn't break 6k than we are in a bullish bounce.
3) The 3rd scenario i see playing out is the H&S pattern that i drawn. We will bounce up in the next few hours, set a higher low below 9k and see bearish movement from there
We still didn't break the higher high and higher low pattern on the 4 hour so we're still in the 1st option that i laid out, if we break this pattern than I would like to see the 2nd option play out which I think is most likely to occur.
P.S. If something isn't clear please let me know in the comments , still learning everyday like you guys.