WCSE Team are here again with another long term Bitcoin view. This analysis is broaden into Four(4) different categories.
So let get to it,
We have daily chart where price is trading inside a BEARISH PENNANT which should/could result into drop later when all the waves are completed. This wave should end around the labeled powerful zone.
Secondly, we have a chart showing off 3d price growth where price seems to be moving inside a typical symmetrical triangle which also have top base at a place labelled strong resistance level. And critically looking at this pattern could lead to a further continuation in previous trend which was DOWNTREND.
Furthermore, the next chart which represent weekly BTC view, show off a break in major downtrend trendline where we have arrow show casing each test on the trendline. This chart talk about potential re-test on the broken trendline level. We should keep close eyes on it.
Lastly, the last chart which is based on Monthly price view show a potential falling wedge in play with price breaking out of the wedge already. The idea here is to wait to possible re-test as well on the wedge level.
Just like I said all these are just the possible forecast I can see and if play out we should be properly guided on which way to focus our attention on.
Please only take this as an analysis sake not a call for opening trading position.
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Thank you
Note: It will be good to always understand risk involve in trading. Always trade with stop Loss in place.
Set up an entry/exit strategy for every trade, with good risk/reward ratio.
All wrong, which is a bit strange, since up and down were the possibilities you proposed, and it broke out of your pattern right away. Patterns dont work. You're charts are proof.
Poukitoun
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demoxbt
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I agree with your 1800 chart, what do you think of this similarity comparison chart?
@OneGoodtrader, would rather split this website in bearish and bullish scenario's, bullish scenario's get way more upvotes all the time, anyway in the end it doesnt matter its what you make of it as a trader