TradingShot

BITCOIN $11500 locked but whats next? Do not ignore this pattern

BITFINEX:BTCUSD   비트코인
This analysis is based on a very distinct short-term pattern that Bitcoin seems to be following throughout the July - August consolidation.

As you see on the chart Bitcoin is trading within a 1D Descending Triangle. Clear support (9100) and a Lower High trend line. That alone calls for a new Lower High target within 11400 - 11800.

What stands out though even more is the structured symmetry that the price appears to be following. More specifically at the moment we are repeating a sequence (orange eclipse) that previously led to the last Lower High. Confirmation comes with the Golden Cross. Notice also the Symmetrical Double Bottom events on two occasions and the primary Double Bottom of the formation. This symmetry portrays a parabolic support throughout July - August that appears to be coming to an end in September with a break-out.

Which way the break-out can be? I am all ears, please share your opinion with me on the comments section!

👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)

💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot

🔥New service: next X100 crypto GEMS!
면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.