How long will BTC continue to consolidate?
Updated
After BTC fell from 3/3 of this year to support around 22400, it has not fluctuated much so far.
-
It can be seen from the four-hour chart that after the price reached around the fibonacci sequence of 0.618, a long upper shadow appeared, indicating selling pressure.
Although there was a large rising k bar later, it did not exceed the previous high point, and BTC showed higher low and lower high in a short period of time, showing a convergent pattern, so it can be regarded as that BTC is still in the consolidation range after falling.
-
It is not recommended to operate here.
-
The current price is above the support range, you can pay attention to the support trend line below and the resistance 22670 above.
-
-
It can be seen from the four-hour chart that after the price reached around the fibonacci sequence of 0.618, a long upper shadow appeared, indicating selling pressure.
Although there was a large rising k bar later, it did not exceed the previous high point, and BTC showed higher low and lower high in a short period of time, showing a convergent pattern, so it can be regarded as that BTC is still in the consolidation range after falling.
-
It is not recommended to operate here.
-
The current price is above the support range, you can pay attention to the support trend line below and the resistance 22670 above.
-
Note
BTC fell below the support trend line, and the four-hour chart continued the bear market. Pay attention to the support at 21574.0.
Note
After BTC fell below the support of 21574.0, the lowest reached 19526.0, and covered the BTC futures gap.
The current price has broken through the high point of 25351.0, and the reverse H&S pattern is established. Pay attention to the upper target: 27365~28740
29138.0
30308.0
31478.0
35265.0
Note
inverse H&S.Note
BTC is currently encountering a resistance zone and the trend is weak. If the price falls below 26640, there is a chance to come to 25211.0~25351.0
Note
BTC fell below 26975.0, rebounded around 26640.0, and has a chance to reach 25211~25351. This is a short trend in a 4 hr chart and does not affect the target on the 1D chart.
Telegram頻道:
t.me/noahchen_crypto
Telegram聊天群:
t.me/noahtradingroup
bybit sign up:
partner.bybit.com/b/56404
zoomex sign up:
partner.zoomex.com/aff/zx39840
t.me/noahchen_crypto
Telegram聊天群:
t.me/noahtradingroup
bybit sign up:
partner.bybit.com/b/56404
zoomex sign up:
partner.zoomex.com/aff/zx39840
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.