BTC peaked on November 23 and then entered a sideways corrective formation.
The corrective formation is called a reverse triangle, and it is characterized by the following features:
Three consecutive lower bottoms (A-B-C)
Two consecutive higher tops (B-D)
With the potential completion of the E bottom of the triangle, we can take a buy position on a lower timeframe if we identify a reversal pattern at the bottoms.
The initial target is a new all-time high.
The corrective formation is called a reverse triangle, and it is characterized by the following features:
Three consecutive lower bottoms (A-B-C)
Two consecutive higher tops (B-D)
With the potential completion of the E bottom of the triangle, we can take a buy position on a lower timeframe if we identify a reversal pattern at the bottoms.
The initial target is a new all-time high.
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.
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.