BTC going up or going down?
3day chart - small pattern currently a bearish rising wedge setup with 2 days left to close.
key to close above 40,792 for potential upside towards wedge resistance.
larger pattern, potential h&s with a neckline towards lower 3d demand 31,900.
potential diamond pattern as well for upside reversal towards golden pocket. few untested 3d supply above and finally a monthly supply 56K
previous thought about 3 drives still seems valid to me if this diamond reverses to the upside. never textbook in crypto but i've tracked more than a handful of this harmonic
where the retracements overshoots and reaches the target to the dot + downside retrace.
bull case - reclaim golden pocket + diamond reversal - target monthly supply 57k/73K - 49K 3 drives retracement.
bear case - h&s breakdown and retests lower 3d and monthly demand down to 28K possible.
monthly demand - 37,150
3d demand - 39,442
daily demand - 38,891
daily supply - 42,870
4hr supply 40,792
golden pocket 43,488-44,758
key to close above 40,792 for potential upside towards wedge resistance.
larger pattern, potential h&s with a neckline towards lower 3d demand 31,900.
potential diamond pattern as well for upside reversal towards golden pocket. few untested 3d supply above and finally a monthly supply 56K
previous thought about 3 drives still seems valid to me if this diamond reverses to the upside. never textbook in crypto but i've tracked more than a handful of this harmonic
where the retracements overshoots and reaches the target to the dot + downside retrace.
bull case - reclaim golden pocket + diamond reversal - target monthly supply 57k/73K - 49K 3 drives retracement.
bear case - h&s breakdown and retests lower 3d and monthly demand down to 28K possible.
monthly demand - 37,150
3d demand - 39,442
daily demand - 38,891
daily supply - 42,870
4hr supply 40,792
golden pocket 43,488-44,758
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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.