Hello folks,
This is a completely speculative price prediction based on horizontal and diagonal trend lines, and support/resistance zones.
We are currently forming a bullish divergence on the RSI in he 4h chart. Therefore, I believe we are going to move upwards next. Since we are still in the bull market, I expect a bullish pattern to form before BTC breaks 58k level. Therefore, the candidates are the ascending triangle, bull flag, and inverse head and shoulders. However, I think that 44k is not the local dip and expect more downside to come in the following days. Therefore, the most likely two of the three are the bull flag and inverse head and shoulders patterns. My experience so far is that bull flags are more common than inverse head and shoulders.
So, based on the bull flag pattern, I predicted a price trajectory using horizontal and diagonal trend lines, and support/resistance zones in the falling wedge until April. Let's see how this prediction plays out.
This is certainly not a trading advice. It is solely to share my ideas and to entertain.
Let me know what you think!
This is a completely speculative price prediction based on horizontal and diagonal trend lines, and support/resistance zones.
We are currently forming a bullish divergence on the RSI in he 4h chart. Therefore, I believe we are going to move upwards next. Since we are still in the bull market, I expect a bullish pattern to form before BTC breaks 58k level. Therefore, the candidates are the ascending triangle, bull flag, and inverse head and shoulders. However, I think that 44k is not the local dip and expect more downside to come in the following days. Therefore, the most likely two of the three are the bull flag and inverse head and shoulders patterns. My experience so far is that bull flags are more common than inverse head and shoulders.
So, based on the bull flag pattern, I predicted a price trajectory using horizontal and diagonal trend lines, and support/resistance zones in the falling wedge until April. Let's see how this prediction plays out.
This is certainly not a trading advice. It is solely to share my ideas and to entertain.
Let me know what you think!